Australia June Business Confidence 2 (prior 7) & Conditions 3 (prior 1)

Author: Eamonn Sheridan | Category: News

National Australia Bank Business Survey for June

Business Confidence drops to 2
  • prior 7 
Business Conditions crawls off the canvas to just 3
  • prior 1
Those two above are the 'headlines'. Attention to the 'employment' sub index, comes in at 5
  • from 2 in May and -2 in April
  • so, that's improving
The reason its a focus is because the RBA is telling us they are watching labour market developments. 

Australia June Business Confidence
Major points noted by NAB (in summary):
  • survey results for June continue to suggest that the business sector has lost significant momentum over the past year or so
  • business conditions remain below average
  •  recent run of results also suggest that the economy is unlikely to record a significant pickup in growth in Q2
  • forward orders also remain below average (and are negative), suggesting a near-term turn around in business activity is unlikely
  • Survey measures of inflationary pressure remain very weak
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AUD dropping away a few points 


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