Australia’s private sector activity improved midway into the first quarter, though growth was driven solely by the service sector. Higher new business supported the expansions in output and employment. Concurrently, inflation rose as both average input costs and output prices increased at faster rates. Overall sentiment remained positive, though the level of optimism eased to a three-month low. The Judo Bank Flash Australia Composite PMI® Output Index* posted 51.8 in February, up from 49.0 in January. The latest reading signalled that private sector activity returned to growth for the first time in five months and at ... (full story)