The Australian services sector saw a modest recovery in November, with the Judo Bank Services PMI climbing to 50.5, surpassing expectations of 49.6. This marks a return to growth, as any reading above 50 indicates expansion, contrasting with October’s contraction at 49.8.
The data signals improving conditions in the services industry, supported by resilient domestic demand despite global economic uncertainties. Analysts suggest the uptick could reduce immediate pressure on the Reserve Bank of Australia to implement further rate adjustments, offering a cautiously optimistic outlook for the economy.
