Australia’s private sector activity expansion accelerated at the start of the second quarter, supported primarily by service sector growth. Higher new business inflows underpinned rises in business activity and employment, while firms remained optimistic regarding future output. On prices, the rate at which output prices rose eased in April despite higher input cost inflation. The Judo Bank Flash Australia Composite PMI® Output Index* posted 53.6 in April, up from 53.3 in March. The latest reading signalled that private sector activity expanded for a third straight month and at the quickest pace since April 2022. ... (full story)