The latest Commonwealth Bank Flash Composite PMI® signalled a renewed fall in private sector output in Australia during November, following no change in October. Declines were seen across both the manufacturing and service sectors. Meanwhile, marginal increases were recorded in both new orders and employment. The rate of input cost inflation accelerated, but companies left their selling prices broadly unchanged amid a relatively weak demand environment.
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.
