Australian services PMI a red mess

Wednesday, 3 April 2019

Fugly from the AIG:

Some pretty dour stuff:

Business-oriented services sectors: All business-oriented sectors in the Australian PSI® were weak in March (trend). Finance & insurance was very mildly negative, as was business & property services. The wholesale trade sector reported firmly negative conditions, while transport & storage also deteriorated. This was the first month in which all of the business oriented sectors have been negative since December 2015. No results were available this month for the communications sector.

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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.