Australia - NAB Q3 Business confidence: 0 (prior 4)

Author: Eamonn Sheridan | Category: News

Australia -  NAB September (Q3) Business Survey

Business confidence: 0

  • prior was 4 (which was the highest since Q3 2014 and pretty much on the long-run average)

Conditions 11 (highest since 2008)

  • prior was 5, revised from 4

Capex plans for the next 12 months rose to +20 (from 18 prior)

More:

  • Profitability +11 (prior 4)
  • Forward orders +5 (prior 1)
  • Business conditions outlook for the next 3 months: +13 (prior 10)
  • Business conditions outlook for the next 12 months: +25 (prior 19)

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While that's a slip in confidence the big improvement in conditions (which is more of an objective measure that the sentiment based confidence measure) is more than offsetting it

Capex intentions, which as discussed in the preview earlier is a key indicator for this survey, showed improvement also.

Net this is a good survey result for the AUD .... but its barely changed and stops under the figure and 90 are still vulnerable.

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Comments from NAB:

  • Confirms the trend improvement in conditions on the non-mining economy
  • Outlook is better also


More to come



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