NAB business survey for March 2019
Business conditions improve, but confidence falls again, to its lowest since January of 2016. keep in mind the 'conditions' measure is more objective than 'confidence' … FWIW.
- Forward orders +1 point to -1
- Capacity utilisation rate up to 81%
- Employment subindex +2 points to +7
- Subindex of sales +4 points to +12
- Profitability +4 points to +5
NAB Group Chief Economist Alan Oster
- "With activity having already slowed, it is important to assess whether this is temporary or has persisted into 2019 - the survey suggests this may be the case at least for Q1
- For now the survey suggests labour market conditions have remained healthy but we are also watching this closely given it may well be a lagging indicator."
(bolding mine)
