Australia - Markit Services and Composite PMI for November (final)
Services 55.4
preliminary 54.9, prior 53.7
Composite 54.9
prior 54.7
Some of the main points from the report:
- New orders rose for a third consecutive month despite falling exports.
- firms take on additional staff for the first time since January
- Confidence regarding the year-ahead outlook remained elevated
- Respondents highlighted that a further easing of measures to control the spread of the coronavirus disease 2019 (COVID19) pandemic was a key reason for the rise in activity.
- Inflows of new business rose at a faster pace in November, although the rate of increase was modest and noticeably below the rise in output.
- stronger demand stemmed from the domestic market as export orders continued to decline
- Employment increased for the first time in ten months during November, rising at the fastest pace for one-and-a half years.
- Input prices rose for a sixth month running, with the pace of inflation accelerating to a two-year high. Greater business expenses were linked to higher wage costs due to reduced government subsidies and rising workforce numbers.
- Higher shipping costs and greater fuel prices also contributed to increased input prices.
