Australia Services PMI Fades In September - S&P Global

RTTNews | 39 days ago
Stocktwits
Australia Services PMI Fades In September - S&P Global

(RTTNews) - The services sector in Australia continued to expand in September, albeit at a slower pace, the latest survey from S&P Global revealed on Friday with a services PMI score of 53.4.

That's down from 55.8 in August, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Successful business development efforts and rising client interest underpinned an expansion in new business in September, according to panelists. Similarly for new export business, companies reported that rising inquiries from clients in Europe and Asia-Pacific helped to drive a second monthly increase in new business from abroad.

Despite easing to a three-month low, the rate at which overall new business rose was solid. This supported the sustained, albeit slower, expansion in services activity. Meanwhile, staffing levels increased in response to rising new business inflows. Additionally, better availability of candidates helped to support the fastest job creation since April.

Tags: AUD
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Australia Keeps Interest Rate Unchanged

Australia Keeps Interest Rate Unchanged

The Reserve Bank of Australia maintained its key interest rate as the full effects of earlier rate cuts are yet to be felt and policymakers became cautious after data showed evidence of more persistent inflation. The policy board governed by Michele Bullock decided to hold the cash rate at 3.60 percent, as widely expected, on Tuesday.
RTTNews | 7 days ago
Australia Building Approvals Jump 12.0% In September

Australia Building Approvals Jump 12.0% In September

The total number of building permits issued in Australia was up a seasonally adjusted 12.0 percent on month in September, the Australian Bureau of Statistics said on Monday - coming in at 17,019.
RTTNews | 8 days ago
Australia Household Spending Growth Weakens, Trade Surplus Declines

Australia Household Spending Growth Weakens, Trade Surplus Declines

Australia's household spending grew at a slower pace in August and the trade surplus declined sharply as exports of gold decreased dramatically, official data showed on Thursday. Household spending rose only 0.1 percent from July, when consumption grew 0.4 percent, the Australian Bureau of Statistics said. This was the weakest expansion in four months.
RTTNews | 40 days ago
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