CBA / Markit Services and Composite PMIs for August,
Services 51.8
Composite 52.0
- priors 52.3 for both
'Key findings':
- Growth momentum in the Australian service sector continued to abate in August, with the rate of business activity expansion slowing for a third straight month. The weak rise in activity was reflected by a slowdown in new order growth, which eased to a survey low. Nonetheless, firms recruited extra staff, albeit at the softest pace in seven months. Higher wage bills contributed to strong input price inflation, motivating firms to raise selling prices.
