CBA Flash PMI bounces through hell

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The CBA Flash PMI:

 

The latest Commonwealth Bank Flash Composite PMI® signalled a further substantial decline in business activity in the Australian private sector as a result of the coronavirus disease 2019 (COVID-19) pandemic. Although May saw the tentative easing of restrictions, this was only enough to see a slight softening of the pace of contraction as demand continued to fall sharply. That said, companies were much more confident regarding the 12-month outlook than they were in April.

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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.