India, May 23 -- Australia's private sector activity expanded in May underpinned by both services and manufacturing sectors, survey data from IHS Markit showed on Thursday.
The Commonwealth Bank of Australia flash composite output index rose to 52.2 in May from 50.0 in April. Any readings above 50.0 signal growth in the sector.
Business activity rose for the first time in four months in May with pick-up in new order growth. New orders increased at the fastest pace since January.
Staffing increased at the fastest rate in May after decreasing in the previous month. On the price front, both input costs and output prices rose at sharper rates in May.
Business confidence improved for the second month and confidence in both the manufacturing ...