Australia April Services PMI (final) 50.7 (preliminary 50.3, prior 46.3)

AI summary

<p>Australia's services PMI rose to 50.7 in April from 46.3 in March, but new orders fell for a second month and input price inflation hit its fastest pace since August 2022, driven by Middle East fuel costs.</p><p class="font-claude-response-body break-words whitespace-normal leading-[1.7]">Summary:</p><ul class="[li_&]:mb-0 [li_&]:mt-1 [li_&]:gap-1 [&:not(:last-child)_ul]:pb-1 [&:not(:last-child)_ol]:pb-1 list-disc flex flex-col gap-1 pl-8 mb-3"><li class="whitespace-normal break-words pl-2">The S&P Global Australia Services PMI Business Activity Index rose to 50.7 in April from 46.3 in March, returning to expansion territory after a contraction in the prior month, per the S&P Global release</li><li class="whitespace-normal break-words pl-2">New orders fell for a second consecutive month in April, with the pace of decline marginally faster than in March, with respondents citing higher fuel costs linked to the Middle East war as a key driver, according to S&P Global</li><li class="whitespace-normal break-words pl-2">Input price inflation accelerated sharply in April to its fastest pace since August 2022, with more than 43% of respondents reporting rising input costs, while output price inflation hit its fastest rate since January 2023 as firms passed costs on to customers, per the survey</li><li class="whitespace-normal break-words pl-2">Business activity growth was confined to just two of the five monitored sectors, information and communication and consumer services, while