Oz PMI plunges into deep recession territory

The Australian PMI,  calculated by IHS Markit, and sponsored by Commonwealth Bank, has plunged deep into recession territory.  This is the first of the "flash" (preliminary) PMIs released.  It gives a foretaste of what the others are likely to be.  Any data point below 50 indicates that, month-on-month, activity is declining.  The lower the number below 50, the more rapid the decline.