The National Australia Bank business survey is once a month, but they also do a quarterly survey
The monthly garners the attention but says NAB, the quarterly is more in depth
Their Q3 report came out as the same time as the jobs lottery numbers, those are here:
- Australia Sept. jobs report: Employment +5.6K
- More on the Australian jobs number: two headlines, a hit and a miss
OK, without any further ado …. the Q3 survey (in brief … its a 15 page report!)
- Q3 business conditions +13, from +15 in Q2
- Q3 business confidence +3, from +7
NAB, in summary, on the results:
- Business confidence and conditions eased in Q3 - though conditions remain well above average; confidence is now below average (but improved slightly late in the quarter).
- Conditions eased in most industries but generally remain above average. Overall, mining continues to see the most favourable conditions while retail lags.
- Capacity utilisation and the difficulty in finding suitable labour remained high in the quarter, suggesting that gradually spare capacity is falling. Nonetheless, surveyed price and wage variables suggest at present inflationary pressures remain weak.
