- National Australia Bank business confidence for Q2: 6 (prior was 7, revised from 6)
- Capacity utilisation at 80.3%
We get NAB Business Confidence monthly, so the quarterly data is not as big a focus.
–
From Alan Oster, Chief Economist at National Australia Bank:
- Business confidence eased a touch, but remains at relatively resilient levels post-budget.
- Business conditions improved marginally as under performing industries improve.
- Forward indicators point to further modest improvement over coming months, but the economy will remain sub trend with soft labour demand.
- Medium term expectations for conditions flat
- Capex expectations up somewhat
- The survey measures of price pressures suggest lower inflation – especially retail prices
- Special question on the impact of currency shows retailers and wholesalers benefiting from strengthening AUD
