Sometimes conventional wisdom is not all bad. It looks like we are enjoying a post election bounce. Following Tuesday’s rise in manufacturing PMI, services follows today, up a more than handy 8 points:
The latest seasonally adjusted Australian Industry Group Australian Performance of Services Index (Australian PSI®) improved by 8.1 points to 47.1 points in September.
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.
