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S&P Global Flash Australia PMI: Private sector growth driven by services
June data indicated that business activity in Australia’s private sector expanded at a faster pace. This was underpinned by greater new business inflows, though export orders shrank at a sharp rate. Sentiment improved midway through the year while staffing levels also continued to rise. Turning to prices, rates of input cost and output price inflation slowed at the end of the second quarter, the latter falling to the lowest level in over four-and-a-half years. The headline seasonally adjusted S&P Global Flash Australia PMI Composite Output Index posted 51.2 in June, up from 50.5 in May. Although growth remained ... (full story)
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