The extinction of Australian manufacturing

Thursday 27 February 2014

Here is the what today’s capex data says about the prospects for Australian manufacturing:

The red dot and line is the investment prospect for 2014/15 and it includes an uplift from a decent realisation ratio. It is at 1992 depths of the recession levels and that’s in unadjusted dollar terms. In real terms it is far lower.

I know I poke the media quite a bit for ineptitude, but the silence around this is staggering.

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.