Australia business confidence 1 (prior 6)

National Australia Bank Business Survey for June 2022

Business confidence comes in at 1, below average

• prior 6
• rising costs a major drag

Business conditions 13, "well above average" says NAB

• prior 15

Note that 'conditions' is a more objective measure than the sentiment-driven confidence measure.

NAB remarks (in brief)

• "Confidence sank below average in June as inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term and interest rate hikes clouded the outlook"
• "Confidence in the retail sector took a significant hit, falling more than 20pts to be well into negative territory, reflecting concerns about the outlook for household spending"
• "Overall, the survey suggests firms are increasingly wary of how the economy will hold up over the months ahead, despite continuing to experience fairly strong conditions at present"