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NAB: Australian Business Confidence Is At Its Lowest Level Since The Election
The NAB Business Survey and its sub-indices is arguably the most important economic release each month because of the breadth of the economy it covers. So the release of this month’s survey showing a fall in both business confidence (+5) and business conditions (+1) is worrying. Indeed the fall in both these measures from 9 and 8 respectively back in July to just 5 and 1 now tells the story of an economy that is slowing – possibly materially so. Certainly both these measures are still positive but the fall in profits to 0, the employment index to -4, and forward orders to -1 tells the story. The NAB does not ... (full story)
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