Construction PMI signals universal building bust

Ah construction or, more to the point, lack of, via the AIG:

Look at employment and new orders:

If we break new orders down it is fugly:

Houses, apartments, offices, bridges and roads all going bust at once. A universal building bust that we warned about for a year yet here we are.

Unemployment is going higher, rates are going lower and QE is coming.

Full report.

David Llewellyn-Smith
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