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Financial News: Australia Services PMI Improves To 50.8 - S%P

Australia Services PMI Improves To 50.8 - S%P Global

01/05/2025 - 18:55:00 (RTTNews)

(RTTNews) - The services sector in Australia continued to expand in December, and at a faster rate, the latest survey from S&P Global revealed on Monday with a services PMI score of 50.8.

That's up from 50.5 in November, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Optimism improved, rising to the highest level in just over two-and-a-half years. That said, employment fell for the first time since August 2021 as capacity pressure softened. Finally, input cost inflation intensified at the end of 2024, leading to a more pronounced rise in average charges.

The rate of input cost inflation was also the highest in three months and fractionally below the series average. Likewise output charges rose at a faster pace that was just below the long-run average as Australian service providers opted to share additional cost burdens with clients wherever possible.

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