The relaxing of coronavirus restrictions has given a further boost to the services sector, which is now enjoying conditions not seen for a year.
The Australian Industry Group performance of services index rose a further 1.5 points to 52.9 points in November, another improvement in conditions after a slump for much of the year.
An index reading above 50 points indicates the sector is expanding.
Four of the five sectors covered by the report expanded during November, with only retail and hospitality continue to contract.
“Sales, new orders, employment and deliveries improved as activity restrictions eased and businesses ran down their inventory levels,” the report released on Monday said.
“Improved conditions and a boost in sales was mainly due to greater movement of goods and people as restrictions across borders and within Victoria eased.”
The report follows a run of largely positive data over the past week, which suggests the economy will finish the year on a relative high after enduring the first recession since the early 1990s.
The national accounts posted last week showed the economy had expanded by 3.3 per cent in the September quarter, rebounding from the nation’s record seven per cent contraction in the June quarter.
Reserve Bank governor Philip Lowe’s initial response to the figures, while facing a parliamentary committee last Wednesday, was “good”.
The Reserve Bank is not expecting the growth rate to return to its pre-COVID levels until the end of 2021.
“If we keep getting numbers like that it will be a bit quicker,” Dr Lowe said.
The governor is preparing to deliver a speech on payment systems to industry figures on Monday.
ANZ will also release its monthly job advertisement report for November, a pointer to future employment.
Job ads rose by a further 9.4 per cent in October, but were still down 13.5 per cent from their February level prior to the onslaught of the coronavirus pandemic.