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Via Judo Bank.
Flash Australia Composite PMI Output Index: 51.4 (Jul: 49.9), 3-month high
Flash Australia Services PMI Business Activity Index: 52.2 (Jul: 50.4), 3-month high
Flash Australia Manufacturing PMI Output Index: 46.1 (Jul: 46.4), 5-month low
Flash Australia Manufacturing PMI: 48.7 (Jul: 47.5), 3-month high
Business activity in Australia’s private sector returned to growth in August, underpinned by rising services activity. Overall new orders also rose while employment growth accelerated alongside rising business confidence. Meanwhile, selling price inflation eased despite average input costs rising at the fastest pace since March 2023.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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