The NAB Business Confidence and Business Conditions survey results for January were released at 0030GMT. This is a bit of a recap:
- The confidence index for January rose to 3 (vs. 2 in December)
- Business conditions improved to minus 2 (vs. minus 5 in December)
“While profitability and trading conditions posted solid gains in the month, employment conditions weakened considerably,” noted NAB’s chief economist, Alan Oster.
“Forward orders were little changed at poor levels, suggesting little upward momentum.”
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