National Australia Bank Business Survey for June 2023

Business conditions 0.0

  • prior -3.0

Business conditions 9.0

  • prior 9.0

Subindexes in the month

  • sales down a point to a still-strong +14
  • employment index unchanged at +5
  • profits +2 to +9
  • forward orders +3 to -2

NAB comments:

  • "Business conditions have eased notably since January but remain above their long run average, a sign of ongoing resilience"
  • "We continue to see warning signs in the survey about the outlook for growth but as of June firms were yet to see a real deterioration"

More:

  • Labour costs +2.6% q/q
  • Input cost growth +2.3% q/q
  • Capacity utilisation fell to 83.5%, its lowest since early last year.

AUD/USD update, not a lot changed on the data:

audusd National Australia Bank business survey june 2023