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Via the AIG. This will get much, much worse in the months ahead if the energy cartel is not smashed. Full report.
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The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) fell by 6.1 points to 52.4 in May, indicating a weaker pace of expansion and halting three months of consistent acceleration (readings above 50 points indicate expansion in activity, with higher results indicating a faster rate of expansion).
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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.
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