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Australia PMI services slips to 53.2 as confidence rises
New orders and employment expanded for the third straight month, but cost pressures stayed a key headwind with input price inflation accelerating.
Australia’s services sector continued expanding in August, but momentum eased slightly, with the PMI Services index slipping from 53.6 in July to 53.2, according to S&P Global data reported by Action Forex.
Business activity rose for a third consecutive month, supported by stronger business confidence to a six-month high, while new orders increased for a second straight month and employment also grew for a third month.
Cost pressures remained the main constraint, as input price inflation accelerated from July with firms citing higher fuel and wage costs, while selling-price inflation slowed.
Broader private-sector activity also grew, with the PMI Composite easing from 53.2 to 52.7 but staying above 50 for a third straight month, suggesting continued Q3 growth with margins and activity still pressured by fuel and wage expenses.