Australian business confidence 7 (prior 1)

National Australia Bank survey of business for July 2022.

Business conditions 20

• prior 13

Business confidence 7

• prior 1

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Both measures significantly improved from June. The 'conditions' measure is more objective than the sentiment-based 'confidence'.

NAB remarks:

• strength in conditions remained broad-based across states and industries
• a notable pickup in the construction sector
• survey suggests that despite global and domestic economic headwinds, demand has remained strong
• inflationary pressure continues to build suggesting 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 is yet to peak

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On inflationary pressures, check out the costs and prices rows below in the pic:

• purchase costs climbed to a record high of 5.4%
• labour costs, retail prices also notably higher

Helping to drive inflationary pressure is that higher capacity utilization also.

Wages up, prices up, capacity tight ... the implications for the RBA are for higher rates. Next meeting is September 6, +50bp looks to be a lock, again.