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- Australian private sector output growth recovered some ground in November, with sharper increases in both the manufacturing and service sectors
Australian private sector output growth recovered some ground in November, with sharper increases in both the manufacturing and service sectors
Australian private sector output growth recovered some ground in November, with sharper increases in both the manufacturing and service sectors. That said, the rate of expansion remained relatively modest. Meanwhile, the rate of job creation eased to a three-month low. There were signs of weakening cost inflation, particularly for service providers, while output prices also increased at a slower pace than in October.
The headline index signalled a pick-up in growth in the Australian private sector during November, rising to 52.9 from 52.0 in October. The rate of expansion in business activity was solid and the fastest since June, but remained relatively weak. Both the manufacturing and service sectors saw sharper rises in output than in the previous month. Growth was led by manufacturing, where production rose to the greatest extent in seven months.
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