Cripes:
The latest Commonwealth Bank Flash Composite PMI® pointed to a much stronger contraction of the Australian private sector during April, with the decline particularly severe at service providers. The coronavirus disease 2019 (COVID-19) led new orders to fall at a steep pace, with employment scaled back markedly as a result. Both input costs and output prices decreased, but this was reflective of trends in the service sector as manufacturing inflation trends accelerated.
And the kicker:
You may not see that again in your lifetime. Full report.