FX.co ★ Australia Private Sector Expands the Most in 3 Months in June

In June, the S&P Global Australia Composite PMI climbed to 51.6 from May's 50.5, indicating nine consecutive months of growth and registering the fastest expansion since March. This growth was entirely fueled by the service sector, as manufacturing activities remained modest. There was an uptick in new business, predominantly driven by services, although export demand continued to decline across both sectors. In response to increased workloads, companies hired more personnel and made progress in clearing backlogged orders. Business confidence improved, reaching its highest point in over three years. In terms of pricing, selling prices saw a modest increase, maintaining the pace set in May, while input cost inflation dropped to its lowest point since December 2024.