Australia Business confidence -5 (prior -8) and Conditions 14 (prior 11)

Author: Eamonn Sheridan | Category: News

Australia National Australia Bank Business Survey for August. 

The two headlines are business confidence -5 and business conditions 14
  • priors -8 and 11 respectively 
NAB remarks:
  •  "The resilience of the survey during the current episode likely reflects the healthy momentum in the economy before the lockdowns, ongoing fiscal and monetary support as well as greater certainty that the lockdowns will end as vaccines roll out"
  • "While we expect a large hit to activity in Q3, the survey supports our view that once restrictions are eased, activity will rebound"
Some of the sub indexes: 
  • sales/trading +19 in August (+12 in July)
  • profitability +15 (+5)
  • employment 9 (+11)
  • forward orders +6 (-5)
  • capacity utilisation 80.0% (81.0%)
Survey taken August 17-30

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