▪ The seasonally adjusted Australian Industry Group Performance of Construction Index (Australian PCI®) registered 50.6 points in June (readings above 50 points indicate expansion), a decline of 3.4 points from May. This signalled stable or marginal growth in the national construction industry in June.
▪ It was also the lowest reading for the Australian PCI® in 17 months (i.e. since the industry’s return to overall growth in February 2017).
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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.
