S&P Global(US:SPGI) Xin Hua Cai Jing·2025-10-03 01:33Core Insights - The S&P Global Australia Composite PMI decreased from 55.5 in the previous month to 52.4 in September 2025, marking the lowest level since June of the same year, indicating a slowdown in the growth of the private sector's overall output in Australia [1][2] Economic Indicators - The overall growth rate of new business in Australia's private sector slowed down in September due to a reduction in new export activities [2] - Employment levels continued to rise steadily, leading to a slight decrease in backlogs of work [2] - Business confidence experienced a slight decline compared to August [2] Price Dynamics - Companies have slowed the pace of increasing product sales prices, while the costs faced by businesses accelerated in September [2] - The services sector's business activity index fell from 55.8 in August to 52.4 in September, the lowest level since June, but remained above the 50-point threshold for 20 consecutive months, indicating ongoing expansion [2] Sector Analysis - Despite the slowdown in new business growth, the services sector continued to expand in September, supported by strong growth in new sales and business activity [2] - Service sector companies increased employment in response to sustained growth in new business, although the business activity index experienced its first decline in three months [2] - The decrease in the rate of increase in service product sales prices is seen as a positive development, supporting market demand and providing some room for the Reserve Bank of Australia to consider further monetary easing before the end of the year [2]