“Cooling demand conditions and acute inflationary pressures reportedly continued to hamper output and new orders,” said Laura Denman, economist at S&P Global Market Intelligence, which compiles the survey.
Output contracted at the quickest pace in 26 months, falling for the fifth consecutive month, the survey results showed.The survey showed the rate of input price inflation dipped to a 14-month low, suggesting cost pressures were easing somewhat, though input prices continued to rise at a historically high pace.
The au Jibun Bank Flash Services PMI Index came in at a seasonally adjusted 50.0 in November, down from the previous month’s 53.2 final, the survey showed.That could not prevent the composite index, which is calculated by using both manufacturing and services, from staying out of contraction.
Source: News Formal (newsformal.com)
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