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Politics

Poppy Johnston

Business output shrinks for second month

OECD Australia Inflation Economy Reserve Bank

Business activity shrunk for the second month in a row as worsening economic conditions dry up new orders.

Australian private sector output contracted faster in November after softening more moderately in October, the S&P Global's flash Purchasing Managers' Index revealed.

The composite index, which includes survey results from both manufacturing and services firms, fell to 47.7, a 10-month low.

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