Business activity in the Australian private sector returned to growth in September, according to the latest Commonwealth Bank Flash Composite PMI®. The rebound reflected an improved picture among service providers, but manufacturers posted a first decline in the health of the sector since the survey began in May 2016. Overall, new order growth picked up and stronger confidence was recorded, but the rate of job creation softened to a fractional pace.
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.
