Business activity across Australia’s private sector declined for the second month running in August, according to Flash PMI® data, with the rate of contraction quickening since July. Survey respondents signalled that the increase in COVID-19 cases, underpinned by the Delta variant, and the corresponding lockdowns across various Australian states in August continued to dampen demand and output. Consequently, employment conditions worsened in the country. At the same time, the rate of input price inflation remained historically elevated, while output charges rose at a faster pace in August. The IHS Markit Flash ... (full story)