Aussie flash PMI craters into Morricession macrobusiness.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from macrobusiness.com.au Daily Mail and Mail on Sunday newspapers.
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at 9:15 am on July 23, 2021 | 8 comments
Into the Morrison Idiot recession we go. Remember that vaccines “are not a race” and we do not need to centralise hotel quarantine in the bush. Via Markit comes the crashing Aussie flash PMI:
The growth streak for the Australian private sector ended in July according to Flash PMI® data which showed business activity in contraction. Survey respondents signalled that renewed restrictions, brought about by the spread of the Delta variant of the COVID-19 virus, affected demand and output in the country. Business sentiment likewise softened in the month. That said, employment and price gauges remained in growth, albeit showing softer readings compared to June.