Australian February business confidence 0 (prior 1)
National Australia Bank (NAB) February 2024 business survey:Business Confidence 0 prior 1Business Conditions 10prior 7compares favourably with its long-run average of +7Sub measures:business sales +5 points to +14profitability +3 points to +9employment +1 point to +6Capacity utilisation 83.4%, from 83.7%Quarterly growth in purchase costs +1.8% in FebruaryGrowth in retail prices +1.4%, from +0.9%NAB comments: "It is really too early to say if this is just a temporary lift or the beginning of a more meaningful turnaround," "Cost pressures clearly remain elevated for businesses and it appears there is still some scope for firms to pass this through to output prices" "These results are a good reminder that a lot of the progress on inflation to date has been driven by the improvement in the global supply environment and from here, the improvement is unlikely to be linear" This article was written by Eamonn Sheridan at www.forexlive.com.
National Australia Bank (NAB) February 2024 business survey:
Business Confidence 0
- prior 1
Business Conditions 10
- prior 7
- compares favourably with its long-run average of +7
Sub measures:
- business sales +5 points to +14
- profitability +3 points to +9
- employment +1 point to +6
- Capacity utilisation 83.4%, from 83.7%
- Quarterly growth in purchase costs +1.8% in February
- Growth in retail prices +1.4%, from +0.9%
NAB comments:
- "It is really too early to say if this is just a temporary lift or the beginning of a more meaningful turnaround,"
- "Cost pressures clearly remain elevated for businesses and it appears there is still some scope for firms to pass this through to output prices"
- "These results are a good reminder that a lot of the progress on inflation to date has been driven by the improvement in the global supply environment and from here, the improvement is unlikely to be linear"
