The Australian private sector ended the first quarter of 2026 in contraction, according to the latest flash PMI® data by S&P Global. The reduction in activity was the first for a yearand-a-half as demand faltered. The decline in output was the strongest recorded since the end of 2023, owing largely to a solid drop in services activity which fell for the first time in over two years. Meanwhile, Australian manufacturers posted a fractional dip in output. Businesses faced steep cost pressures, with the rate of inflation at a more than three-year high. At least some of this increased cost burden was passed through to ... (full story)