by Both imports and exports falling as per the global trade collapse. Falling imports are also an indication of consumer weakness: New orders heading south with tariffs: Familiar pattern: Fire related maybe: Australia Construction PMI Contracts Further The Ai Group Australian Performance of Construction Index declined to 38.9 in December 2019 from 40 in the previous month, falling to the lowest level since May 2013 and adding weight to calls for fiscal stimulus. The activity index fell sharply again in December with its biggest monthly drop in 12 months (down 4.4 points to 36.5). second month (up 0.8 points to 50.8). In contrast, apartment building remained deep in negative territory (up 0.9 points to 37.4). There is now a clear danger of a self-Meanwhile, new orders
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WARREN MOSLER writes Consumer sentiment, real retail sales, industrial production, wages
WARREN MOSLER writes New manufacturers orders, vehicle sales, unemployment claims, rents, oil prices
WARREN MOSLER writes Saudi price hike, private payrolls, new hires, corporate profits
WARREN MOSLER writes Pending home sales, Durable goods orders, oil rigs and production
Both imports and exports falling as per the global trade collapse. Falling imports are also an indication of consumer weakness:
New orders heading south with tariffs:
Familiar pattern:
Fire related maybe:
Australia Construction PMI Contracts Further
The Ai Group Australian Performance of Construction Index declined to 38.9 in December 2019 from 40 in the previous month, falling to the lowest level since May 2013 and adding weight to calls for fiscal stimulus. The activity index fell sharply again in December with its biggest monthly drop in 12 months (down 4.4 points to 36.5). second month (up 0.8 points to 50.8). In contrast, apartment building remained deep in negative territory (up 0.9 points to 37.4). There is now a clear danger of a self-Meanwhile, new orders declined 0.6 to 36.9 points. Of the four construction sectors, house building was the best performing sector with activity showing stability for a reinforcing downturn across significant parts of the domestic economy,” Ai Group Head of Policy, Peter Burn, said.
Chart still looking lower:
The ISM Non-Manufacturing PMI for the US increased to 55 in December of 2019 from 53.9 in November, slightly beating market forecasts of 54.5. The reading pointed to the biggest expansion in the services sector in four months as production and inventories rose faster while new orders, new export orders and employment slowed. Companies are positive about the potential resolution on tariffs and capacity constraints have eased a bit although difficulties with labour resources remain, according to Anthony Nieves, Chair of the ISM.
