The S&P Global Australia Composite PMI slipped to 52.4 in September from 55.5 in August, signaling continuous monthly growth for a year, although September’s expansion was the weakest since June. Growth in new business softened, partly due to a renewed decline in new export orders, while companies continued hiring at a solid pace, supporting a marginal reduction in outstanding work. Staffing levels remained resilient despite slower activity growth, reflecting sustained demand for services. Business confidence eased slightly from August as firms exercised caution amid uncertain market conditions. Output charges increased at a slower pace, while cost inflation accelerated, putting pressure on profit margins. Overall, the data indicated that Australia’s services sector continued to expand, albeit at a more moderate rate.