Australia Judo Bank / S&P Global data for December 2024.
Services PMI comes in at 50.8, 11th consecutive month of growth
From the report, in summary:
Services activity growth aligned with stronger new business, supported by rising market demand.Export orders increased for the first time in four months, driven by higher demand from the US and Asia.Business confidence climbed to its highest level since May 2022, fueled by hopes for lower interest rates and opportunities from the 2025 elections.Employment fell for the first time since August 2021, reflecting reduced capacity pressures and challenges in securing skilled labor. However, job shedding was marginal.Prices:
Input costs rose at the fastest pace in three months due to higher material, transport, and wage costs.Firms increased output charges to offset rising expenses, though price hikes remained below long-term averages.***
Composite 50.2
November was also 50.2third consecutive month of marginal private sector growthExpansion was limited to the services sector, as manufacturing output declined.Employment declined across the private sector, alongside a reduction in backlogged work.Input costs and output prices rose at an accelerated pace.Improved across both the manufacturing and services sectors by the end of the fourth quarter. This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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