Australia Pmi Compuesto

he S&P Global Flash Australia PMI Composite Output Index fell to 49.4 in November from 50.2 in October, signaling a slight contraction in private sector output for the second time in three months, flash data showed. The decline was driven by a reduction in services activity and a continued contraction in manufacturing. New business growth slowed, with domestic demand driving a modest increase while export business fell for a third consecutive month. Backlogs of work decreased, indicating less pressure on business capacity, which led to slower job creation. Price pressures eased, with input prices rising at the slowest pace in over four years, and manufacturing cost inflation fell to its lowest since June 2023. Businesses raised selling prices more slowly, reflecting eased cost pressures. Business confidence in the service sector remained below the long-run average but rose to its highest level since August 2023, with firms expressing cautious optimism for the future.