National Australia Bank business survey
Business confidence -4
- prior +6
Business conditions +17
- prior +18
- sales index is at a high +27
- profitability index +14
- employment index up 1 point to +11
NAB remark:
- "Overall, the survey confirms the ongoing resilience of the economy through the first months of 2023, though we continue to expect a more material slowdown in demand later in the year when the full effect of rate rises has passed through"
China's reopening will be a tailwind for Australianexports
