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Australia PMI composite rose to 56.2, rounds off a strong quarter, but inflation a concern

Australia PMI Manufacturing rose slightly to 57.0 in March, up from 56.9. PMI Services jumped to 56.2, up from 53.4. PMI Composite also rose to 56.2, up from 53.7.

Pollyanna De Lima, Economics Associate Director at IHS Markit, said: “The latest results rounded off a strong quarter for the private sector, the best since the second quarter of 2017… Inflation remains an area of concern, with March data showing the strongest rise in input costs in the survey history…. Supply-chain disruption was cited by panellists as the main driver of inflation, a factor that also restricted business optimism towards growth prospects.”

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