National Australia Bank Business Survey for December
- business confidence 3 (prior 3)
- business conditions 2 (prior 11) …. huge ugly result, awful
Business conditions had been a bright spot, but it collapsed in December, dropping 9 points to under is long term average of 6
Forward orders down 1 point to -1
- an indicator of domestic demand
Employment down 5 points to +4
Sales down 8 points +7
Profitability down 8 points to 0
NAB chief economist Alan Oster.
- At face value, the fall over the past 6 months suggests a significant slowing in the momentum of activity in the business sector - especially from the highs seen earlier in the year
Business conditions … lowest since 2014
Check out this ugly pair of charts:
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Preview is here ICYMI:
