Australia Private Sector Growth Strengthens

(RTTNews) - Australia's private sector growth strengthened in June on robust new business, flash purchasing managers' survey data from S&P Global revealed on Monday.

The flash composite output index improved to a three-month high of 51.2 in May from 50.5 in the previous month.

There was acceleration in the pace of business activity expansion to the second-fastest in ten months. Faster services activity was the main driver of the increase in private sector output. The flash services Purchasing Mangers' Index registered 51.3 compared to 50.6 in May. At the same time, the flash manufacturing PMI remained unchanged at 51.0 in June. "Elevated uncertainty, especially for the goods producing sector, has led to market expectations for further easing of monetary policy," S&P Global Market Intelligence Economics Associate Director Jingyi Pan said.

"The latest PMI data also revealed both slowing employment growth and softening inflation trends, which are supportive of additional interest rate cuts into the latter half of 2025," Pan added.