Construction PMI keeps on crashing

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Via the AIG:

Looking to new orders there is no ScoMo/RBA bounce of substance beyond things getting worse a little more slowly in houses:

T

That is a shit report for anyone expecting a ScoMo/RBA resurgence for dwelling construction. Full report.

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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.