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Judo Bank flash PMI is out.
Flash Australia Composite PMI Output Index: 48.3 (Jun: 50.1), 7-month low
Flash Australia Services PMI Business Activity Index: 48.0 (Jun: 50.3), 7-month low
Flash Australia Manufacturing PMI: 49.6 (Jun: 48.2), 5-month high
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Staffing levels increased for the twenty-third successive month, but the rate of job creation was only slight and the softest in 2023 so far. Higher workforce numbers meant that companies were again able to deplete backlogs of work.
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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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