Australian April business confidence 10 (vs. prior 16)

National Australia Bank Business Survey for April 2022

Business confidence: 10

• prior 16

Business conditions 20 (up well from March. Conditions is a more objective measure than the sentiment-based confidence)

• prior 15

Some of the sub-measures

• sales +4 to a very high +27
• profitability +10 points to +22
• employment index steady at +10

NAB comments:

• "Pleasingly, the improvement was largely driven by much stronger conditions in the recreation & personal services sector, which has lagged through the recent recovery period but is now back above their pre-COVID average level"
• "The April survey results show little let-up in the underlying cost pressures that are driving prices higher, supporting our expectation that 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 will remain elevated in Q2 and likely Q3"

Check out the price pressures (labour, purchase costs and Final product prices) ... all higher