Australia’s private sector activity expansion sustained in June, but remained services-driven. Firms worked through their backlogs amid a reduction in new business, supported by higher staffing levels. Selling price inflation meanwhile eased in June amid softer cost pressures and a drop in confidence levels. The Judo Bank Flash Australia Composite PMI® Output Index* posted 50.6 in June, down from 52.1 in May. The latest reading signalled that private sector activity expanded for a fifth straight month, but at a slower and only marginal pace. Business activity growth was again driven primarily by the service sector, ... (full story)