Australian business confidence falls to -4 (prior 0)

National Australia Bank survey, confidence (at -4) and conditions (at 20) both dropped ( 0 and 22 priors, respectively).

• confidence negative for the first time since December 2021

Some of the sub-indexes:

• sales -2 to a still very strong +28 (resilience in demand citied for this)
• capacity utilisation just off a record high at 85.2%
• profitability -1 to +20
• employment -1 to +13 (still historically high)

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 indicators still high:

• Labour costs up a little in the month
• both producer costs and retail prices higher

The 'conditions' measure is the more objective of the two, the 'confidence' measure is a reflection of (subjective) sentiment.

NAB remarks:

• "Overall, the survey suggests the economy powered through November with consumers still spending in the run-up to Christmas" "However, firms have become increasingly pessimistic about the future as they look ahead to a slowing global economy and a period of weaker consumption as inflation and higher rates weigh on households."