AU: Australian private sector economy stabilises in April

After a month of decline in March, the start of the second quarter saw business activity levels stabilise across Australia, according to April Flash PMI® data by S&P Global. However, the recovery in activity was confined to the service sector as manufacturing output was down for a third month running. Overall, domestic demand conditions remained soft across both broad sectors and price pressures continued to mount as war in the Middle East drove fuel costs up. Manufacturers also signalled severe supply chain disruption Up from 46.6 in March, the headline seasonally adjusted S&P Global Flash Australia PMI® ...