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Flash PMIs show renewed contraction of the Australian economy in October while Japan's service sector powers growth
October's flash PMI data indicated that the Australian economy returned to contraction following eight straight months of growth. On the other hand, Japan's expansion accelerated at the start of the fourth quarter, powered by improvements in the service sector as the economy reopened. Despite the two APAC economies diverging in terms of performance, some common themes including higher inflationary pressures and lower business confidence lingered, highlighting two worrying trends to track with the PMIs in the months ahead. Australia's private sector slips into contraction as uncertainty grows The latest flash PMI data ... (full story)
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- Posted: Oct 25, 2022 12:18am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 696
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