Construction PMI off the bottom

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Still contracting at a great pace:

It’s funny given construction was never supposed to shut down but clearly some did.

Most segments are returning to former downtrends but one is criminally weak:

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Josh Depressionberg should never have allowed infrastructure to get flushed like this. It was a rookie mistake. Full report.

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.