The services sector in Australia experienced accelerated growth in December, as indicated by the latest survey from S&P Global, which reported a services PMI of 50.8. This figure marks an increase from November's 50.5, further distancing itself from the critical 50 threshold that differentiates expansion from contraction.
The outlook improved, reaching its most optimistic point in over two and a half years. However, employment saw a decline for the first time since August 2021 due to eased capacity pressures. Additionally, input cost inflation intensified by the end of 2024, resulting in a significant increase in average charges.
The rate of input cost inflation reached its peak in three months, slightly below the series' average. Similarly, output charges increased at a quicker pace, nearly matching the long-term average, as Australian service providers endeavored to distribute the added cost burdens to their clients whenever feasible.
The material has been provided by InstaForex Company - www.instaforex.com
The outlook improved, reaching its most optimistic point in over two and a half years. However, employment saw a decline for the first time since August 2021 due to eased capacity pressures. Additionally, input cost inflation intensified by the end of 2024, resulting in a significant increase in average charges.
The rate of input cost inflation reached its peak in three months, slightly below the series' average. Similarly, output charges increased at a quicker pace, nearly matching the long-term average, as Australian service providers endeavored to distribute the added cost burdens to their clients whenever feasible.
The material has been provided by InstaForex Company - www.instaforex.com