Australian private sector expansion slows down in February

Australian Private Sector Growth Slows in February

After a robust beginning to the year, the pace of growth in Australia’s private sector eased in February, according to preliminary PMI® figures from S&P Global. Both manufacturing and services experienced slower increases in output and new orders. Although business confidence softened, it stayed in positive territory. Employment gains picked up, helping to manage ongoing workloads and a steady rise in new business. Data also indicated that overall input and output price inflation intensified. The seasonally adjusted S&P Global Flash headline index registered 52.0 in February.