The final's for these will follow in a couple of weeks, but the flash readings are not looking promising.

  • Manufacturing has come in at 49.4 in December, from the prior 49.9
  • Services 49.5, against the prior 49.7
  • Composite 49.4, prior 49.7

    • From the report, the 'key finding':

    • pointed to a further marginal decrease in business activity across the manufacturing and service sectors in the final month of 2019.
    • Weakness was particularly evident at manufacturers, which saw the sharpest decline in the 44-month survey history.
    • On the other hand, new orders continued to rise, boosted by growth in services new business.
    • Companies reduced their staffing levels for the first time in five months

    Later in the session here we will get the update to Australia's government budget, the mid year fiscal and economic update (MYEFO). The politicians will pump up their chests telling us how big their dic surplus is while not metninoing the deterioration in the economy 's performance much at all.