Prior 53.1Final Composite PMI 51.3 vs 51.5 prelimPrior 52.4<\/p>\n
Key findings:<\/p>\n
Business expectations drop to lowest since last April<\/p>\n
Comment:<\/p>\n
Commenting on the PMI data, Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, said:\n<\/p>\n
\u201cBusiness activity in the private service sector grew for the fourth month in a row. Although the pace of expansion has
\nslowed slightly, it can still be described as relatively robust. In this environment, companies also found themselves
\ncompelled to hire more staff than the month before, after having even reduced employment at times in 2025. The moderate
\ngrowth in new business suggests that the start to the new year could be satisfactory.\n<\/p>\n
\u201cService companies are in a position to pass on the rise in costs to their customers, albeit only partially. Taken on its own,
\nthis points to favourable, but not spectacular demand conditions. The higher costs are likely to be primarily the result of
\ncontinued above-average wage increases. This is because most service activities are relatively labour- and wage-intensive.
\nThis cost problem is unlikely to disappear in the coming year, as the main cause is demographic change and the resulting
\nlabour shortage, which continues to prevail in many sectors despite the generally weak economy.\n<\/p>\n
\u201cConfidence among service providers has deteriorated significantly with regard to the next twelve months. The index of
\nfuture activity has slipped to its lowest level since last April, putting it around three-and-a-half points below the long-term
\naverage. This may be due to dissatisfaction with the government, as many companies believe that the reforms that have
\nbeen adopted are heading in the wrong direction or are not comprehensive enough. However, experience shows that
\nsentiment can also change quickly, so this is only a snapshot of the current situation.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Prior 53.1Final Composite PMI 51.3 vs 51.5 prelimPrior 52.4 Key findings: Business expectations drop to lowest since last…\n","protected":false},"author":2,"featured_media":163580,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":{"0":"post-395906","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/395906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=395906"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/395906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/163580"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=395906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=395906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=395906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}