National Australia Bank Business survey for October 2020
The result for business confidence is the highest since the middle of 2019. Some less sanguine results in the sub measures:
- employment index stayed negative
- forward orders stayed negative
On the confidence measure, continues its rebound for -34 back in April but still short of its longer run average of 6. All three sub measures rose.
- trading and profitability positive
NAB comments:
- economy has rebounded
- will likely continue to recover as the economy reopens
- improvement in confidence is encouraging but remains fragile
- will likely remain that way until a vaccine is available
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The NAB survey was conducted in the last week of October as Victoria began to get announcements on an emergence from its harsh lockdown #2.