National Australia Bank business survey for November showing these two indicators still under their longer run averages (around 6 for both)
business confidence 0
- prior 2
- the confidence measure is more sentiment based than the other
business conditions 4
- prior revised from 3 up to 4
- business conditions is a more objective guide
Recent Australian PMIs have improved a little. Reflected somewhat in the better 'conditions' indicator.
More from the NAB survey:
- sales down 1 to +6
- employment unchanged at +4
NAB comments from the report:
- Business conditions appear to have stabilised
- survey has tracked broadly sideways in recent months after showing a significant deterioration between early-2018 and mid-2019
- gap between the worst performing industries - the goods related industries - and services widened further
- "While we think conditions are stabilising, we don't see a significant recovery as being imminent."
AUD is barely changed.