Mike's Minute: Manufacturing is our big economic red flag
As much as we tried to celebrate last week's excellent economic numbers regarding the food and fibre, the bullishness of Fieldays, the boost in elective surgery and the boom in teacher numbers, what you can't ignore is the manufacturing read for April.
It hit a brick wall.
It fell over six points and is below the 50 point expansionary mark.
A couple of key things about that - while services and sentiment and spending figures have been bad manufacturing, for months now, has been on the increase each and every month. It has been above 50, it has been growing.
It has been a significant green…
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