From the National Australia Bank Business Survey for November
I did a double-take on the business conditions result ... in at 12 for November
- After a stonking 21 in October
- The long run average is 5, so a good result today (except when comparing with October ....)
Business confidence lower also, to 6 in November
- from a revised 9 in October
NAB comments, from NAB chief economist Alan Oster:
- Despite the drop, business conditions remain well above the long-run average and are at solid levels across most of the economy
- Forward orders were stronger"
- The construction industry is looking particularly good, but the retail sector is still lagging behind
more to come
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NAB surveys >400 businesses
