Flash PMI data for Australia indicated a marked increase in private sector output at the start of 2021, but growth softened due to a slowdown in the service sector. Aggregate new orders expanded for the fifth consecutive month, while job creation was sustained in January. Although companies remained upbeat of a rise in business activity over the course of the coming 12 months, the overall degree of business confidence waned to the lowest since August. Concerns over the lasting effects of the coronavirus disease 2019 (COVID-19) epidemic on the economy dampened positive sentiment. At the same time, selling prices rose ... (full story)