Australia Private Sector Shows Slowest Growth in 3 Months

The S&P Global Flash Australia Composite PMI fell to 52.1 in September, down from 55.5 in August, marking the lowest reading in three months while still signaling a twelfth consecutive month of expansion. Output growth eased across both manufacturing and services, driven by slower inflows of new work, with goods new orders contracting at the fastest pace in eight months. New export orders also declined slightly, as faster services export growth failed to offset weakness in the goods-producing sector, with US tariffs weighing on overseas demand. Business confidence fell to its lowest level in a year amid concerns over trade policy and growth prospects. Employment continued to rise, supported by higher staffing levels that allowed firms to reduce backlogs for a fifth consecutive month. Input prices remained elevated, particularly in manufacturing, while selling price inflation eased to a three-month low due to softer services output prices and strong competition.