By: Eamonn Sheridan

The January AIG PMI came in at 40.2 (vs. 44.3 previously). This is now the 11th consecutive month of contraction (a reading below 50) and the lowest level of this index in 3 years. There is an excellent, detailed review of the figures by Sam Ro at Business Insider. If you are a manufacturing employee in Australia you might not want to read it. Depressing stuff indeed. :-( Here Are Some Horrific Numbers Out Of Australia