The Australian private sector enjoyed its first increase in new business in five months in July, according to 'flash' PMI® data from S&P Global. Improved demand conditions underpinned a stronger expansion in output, led to upgraded recruitment activity and enabled greater protection of profit margins. In fact, the gap between the input costs and output prices indices lessened amid a combination of softer cost inflation and a faster rise in charges. However, amid reports of uncertainty across the market, business sentiment among Australian private sector firms remained subdued in July. The level of confidence was up ... (full story)