Australia Services PMI Slows to 51.9 in September as Price Pressures Intensify

Australia's services sector expansion slowed to a three-month low in September, with the S&P Global Services PMI dropping to 51.9 from 53.2 in August. The broader Composite Output Index retreated to 51.3 from 52.7, though both indices held above the 50.0 no-change threshold for a fourth straight month. Services employment contracted for the first time since May, marking only the third monthly drop in five years. Meanwhile, input-cost and output-price inflation accelerated further above historical averages due to higher fuel and wage expenses, potentially reinforcing a hawkish stance from the Reserve Bank of Australia.