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Business conditions stabilise but NAB is now ready to say the RBA could cut rates
Australian business conditions rebounded in January, lessening the risk of a pronounced slowdown in hiring and investment in the months ahead. However, conditions for the retail sector — the second-largest employer in the country — remained dire. According to the National Australia Bank’s (NAB) monthly business survey, the conditions index rose 4 points to +7, partially recovering having fallen by the most since the GFC in December. “Conditions rebounded somewhat after the sharp decline last month,” said Alan Oster, Chief Economist at the NAB. “We had noted that seasonality and statistical volatility may ... (full story)