National Australia Bank Business Survey results.
- Confidence 6, prior 10
- Conditions 16, prior 20
Despite the drop in both they are still solid. the long-run confidence level is around 6. Conditions are sell above their average.
Sub measures were solid also:
- sales -3 points to +24
- profitability -4 points to +17
- employment index +1 to +11
- Overall, the survey indicates the economy has maintained its momentum into Q2 and most businesses are in a strong position despite the inflation headwinds, with the lift-off in interest rates and global growth risks yet to significantly impact Australia's economic trajectory,
- There was a slight easing in cost growth in May but inflation remains a key challenge.
AUD not doing much on the data: