Services PMI to 57.0 in December from 55.1 in November
- Its highest for five months
- the fourth consecutive monthly improvement
Composite hit 56.6 in December from 54.9 in November.
Markit comments:
- "The Australian service sector ended a turbulent year firmly in expansion territory, with business activity increasing at the fastest pace since July. This was matched by a similarly strong rise in new orders as Australian service providers welcomed the lowering of domestic COVID-19 restrictions.
- "Sustained increases in both activity and demand for services buoyed Australian service providers to increase capacity for the second month running via another round of employment growth.
- "The picture for the Australian services economy remains positive at the end of the year, with expectations for an expansion in activity remaining at high levels. However, concern surrounding the pandemic persists with the re-imposition of restrictions in southern states following a resurgence in infection rates."
Meanwhile, the latest outbreak of the virus in Australia continues getting crushed. The state of Victoria has reported only 1 locally transmitted case for the past 24 hours. Still awaiting NSW figures. I noted yesterday plenty of social media advice out of the US on what Australia was doing wrong in its handling of the crisis. Plonkers.
