And the Composite comes in at 55.7 also, from 55.0 in October.
more to come
Comment from Markit on the result:
- easing COVID-19 restrictions continuing to drive the economic recovery
- Demand and business activity both expanded at faster rates.
- Export demand contracted further, but the expected easing of border restrictions may revive this going forward
- Price pressures meanwhile continued to build with input price inflation charging to a new survey record. Labour constraints were also reported, though these are consistent with reopening trends and will be further observed in the coming months
- Broadly, Australian service providers saw better business confidence in November, pointing to expectations for further business activity growth ahead, which is a very positive sign
An upbeat assessment of a solid expansionary PMI. The services sector was pummeled by extended lockdowns in Q3 impacting nearly half of Australia's population. On the improve now tih reopening.
