These are the preliminary PMIs from the CBA / Markit surveys.
Manufacturing 54.5, well into expansion and unchanged from the previous month
- prior was 54.5
Services 52.6, expansion and at a faster pace than in October
- prior was 51.7
Composite 52.9 (combines the two above)
- prior was 52.0
Key points:
- rate of job creation eased to a three-month low
- signs of weakening cost inflation (especially for service providers)
- output prices increased at a slower pace than in October
CBA comments on the results:
- manufacturing and services sector are sending positive signals on the outlook for the economy
- Forward looking indicators still look solid
- new orders and new business components of the surveys lifting in November
- Export orders have picked up in the manufacturing sector after easing over the previous two months
- Input price pressures eased in the month, likely reflecting the fall in oil prices
- output prices eased too
- production growth in the economy remains solid
- pricing pressure remains on the softer side
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Not much of an AUD mover. And not much FX movement across the board right now.
