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Judo Bank PMI sags again.
Flash Australia Composite PMI Output Index: 49.8 (Aug: 51.7), 8-month low
Flash Australia Services PMI Business Activity Index: 50.6 (Aug: 52.5), 2-month low
Flash Australia Manufacturing PMI Output Index: 44.2 (Aug: 46.0), 52-month low
Flash Australia Manufacturing PMI: 46.7 (Aug: 48.5), 52-month low
The divergence in sector performance was likewise observed for new orders, with further services new business growth contrasting with a sharper downturn in manufacturing new orders.
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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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