PCI plunge slows

Wednesday, 7 November 2012

Some good news this morning (or, at least, less bad) with the October Performance of Construction Index slowing its decline in October up 4.9 points to an astonishingly bad 35.8%:

The main drive of the improvement was a lift in new orders, mostly in engineering (read mining) but improvement more broadly as well:

Here is a summary of the internals:

Good to see an improvement in the sector but this is still far from healthy.

Pci Report Oct 2012

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.