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  • Australia’s Services Activity Rises, Costs Gain in Rates Worry

    From bnnbloomberg.ca

    Australia’s private sector business activity rose at the fastest pace in three months with both employment and input costs gaining, suggesting monetary policy may not be tight enough to damp price and demand pressures. The services activity index rose to 52.2 in August from 50.4 in July and the composite PMI advanced to 51.4 from 49.9 in the same period, Judo Bank said in a statement on Thursday. Australia’s economy is dominated by services industries and activity in the sector has remained expansionary in the seven months to August. Meantime, Australia’s manufacturing PMI ticked up to 48.7 in August, from 47.5 ... (full story)

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