Australian Preliminary PMIs for December improve but remain in contraction

<p>Judo Bank / S&amp;P Global flash / preliminary PMIs for December 2023 </p><p>From the report in brief:</p><ul><li>Both key activity indicators remain below 50, in line with
a growth ‘pause’, and are well above levels indicative of
economic recession.</li><li>Complicating the economic picture are the still strong
employment readings and elevated price indexes.</li><li>For the RBA and Treasury, these results are consistent
with the soft landing view of the economic outlook.
There are few signs that the economy is likely to tip into
a steeper downturn next year. Most importantly, the
strong employment results suggest the economy may
prove resilient in 2024. It is hard to see a sharp downturn
in the economy while employment and incomes are
expanding.</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.