Australian data, an early guide to October activity from the CBA / Markit preliminary PMIs.
Manufacturing 50.1
- prior 50.3
Services 50.8
- prior 52.4
Composite 50.7
- prior 52.0
The summary comments from the report are not overly encouraging:
- The latest Commonwealth Bank Flash Composite PMI® pointed to subdued business conditions in Australia at the start of the final quarter of the year. Output rose at a softer pace amid the weakest new order growth since April. Business confidence also softened and firms raised their staffing levels only marginally. Meanwhile, input costs continued to increase at a marked pace, leading firms to raise their own selling prices to the greatest extent since last November in a bid to protect profit margins
more to come
