National Australia Bank Business survey
Business confidence 15
- prior 18, revised from 16
Business conditions hit a record high of 25
- prior 17, revised from 15
- note that the conditions index is generally seen as a more objective measure than the sentiment-influenced confidence measure
National Australia Bank remarks:
- "Businesses are telling us activity continues to increase at a very healthy rate as we have moved past the rebound phase in activity with the earlier removal of pandemic-related restrictions"
- "Overall, the recovery over the last year has been much more rapid than anyone could have forecast."
Some of the sub-indexes (these the major ones):
- sales up 12 points to a record high of +35
- profitability up 8 points to +26 (also a record high)
- employment up 7 points to +16 (ditto, record high)
This is a solid report. I posted earlier on the risks ahead for Australia due to the super-slow debacle of a vaccine rollout and the cessation of government wage support. The risk is real, but for now, tracking along nicely. Earlier:
