Australia is in Good Economic Shape

            We’ve gotten the latest round of AIG industry PMIs for Australia’s construction, manufacturing and service sectors.  All three are expanding.  Although the manufacturing index dropped 1.2 points, tt has been above a 50 reading for 17 months, indicating continued growth.  All seven activity sub-indexes are rising and 6/8 sectors are growing.  The service sector is in its 13^th month of expansion.  Currently, all five of its indicators are rising while 6/9 sectors are growing.  And the construction sector is experiencing its 13^th consecutive month of expansion