Forex

Australian (last) services PMI for September 50.5 (prior 52.5)

.The initial readings for September are actually right here: Australia initial Sept PMI: Production 46.7 (prior 48.5) Providers 50.6 (prior 52.5) Finals are, services 50.5 complex 49.6 Briefly coming from the document: Final September PMI validates slow economic growth, similar to Flash release.Services industry carries on extending, increasing staffing, but at a slower speed than early 2024. Business cost pressures stay, harder to pass on to consumers.Service market task stays above neutral but has decreased, with new business mark averaging 51.4 in the last three months.Limited financial increase from income tax reduces and stimulation RBA probably to sustain money rate.Employment development in services industry slowing public sector requirement helps offset private sector decline.Output price pressures dropping, yet input prices still high, restricting profitability.Business expectation depends upon household costs rebound in FY25.This post was created by Eamonn Sheridan at www.forexlive.com.

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