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AU business activity decreases for first time in five months
The August Flash PMITM data signalled a first reduction in output since March, with the decline centred on the service sector. New orders also decreased, but employment returned to growth and business sentiment picked up. Currency weakness led to a faster rise in manufacturing input prices, but services costs increased at a weaker pace, as did output prices across both monitored sectors. The headline figure derived from the survey is the Commonwealth Bank of Australia Flash Composite Output Index, which is designed to provide timely indications of changes in output in the Australian private sector. Readings above ... (full story)