The ScoMo miracle ain’t travelling too well for business. Via CBA:
Winter chills hit spending Commonwealth Bank Business Sales Index
Economy-wide spending stalled in June. The Commonwealth Bank Business Sales Indicator (BSI) was broadly flat in trend terms – the weakest monthly growth rate in over two years. Spending growth has decelerated for four consecutive months and is below the 0.4 per cent long-term average monthly growth pace.
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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.
