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Economic Buzz: Australia Services Sector Accelerates In November

Economic Buzz: Australia Services Sector Accelerates In November

December 03, 2021 8:48 IST | capital market

Australia services sector continued to expand in November with a services PMI score of 55.7, the latest survey from Markit Economics revealed on Friday. Thats up from 51.8 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction. The rate at which business activity rose was the fastest since June, prior to when the COVID-19 Delta wave hit the Australian economy. Incoming new business rose for a second straight month in November and at the fastest pace in five months, with the Information & Communication sector exhibiting the strongest growth in demand. The survey also showed that the composite index rose from 52.1 in October to 55.7 in November.

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