Manufacturing crashes to post GFC low

Advertisement

The AiG PMI is out this morning and it’s wish me luck as I wave you goodbye manufacturing!

Yes, activity has now sunk to the lowest level since the GFC. And it’s broad based:

Advertisement

And accelerating:

But worry not, it would have happened anyway ;-).

And to celebrate, here is the theme song of the day:

Advertisement

Pmi Report July 2012 Finalnew

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.