The National Australia Bank's quarterly business survey does not attract the focus their monthly one does.
Business confidence 5 (high inflation , rate rises weighing on sentiment)
- prior 15 (revised from 14)
Business conditions 20
- prior revised from 9 to 11
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In the comments to the report NBA note that supply chain issues are easing somewhat, but labour supply issues are intensifying - see wage gains ahead due to the labour market tightness.
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The quarterly survey is different to the monthly survey, NAB explains::
- The quarterly NAB Business Survey gives a more in-depth probe into the conditions facing Australian business than the monthly survey, and also provides extra information about how firms perceive the outlook for their respective industries.
And:
- The quarterly survey has a bigger sample than the monthly, and has additional metrics such as expected capital expenditure (12m ahead) and expected employment (12m ahead). Both are good sources of information for the intentions of businesses to invest in capital and labour.