Australian business sentiment and conditions appeared to have picked up in March, according to the latest monthly National Australia Bank survey, as the February cut to the cash rate fed through to housing and other non-mining activity. NAB's much-watched business survey, which covers 400 companies across most sectors, found a 3-point improvement in confidence, to 3 index points, and a 4-point lift in conditions, to 6. Both trading and profitability improved, and there was also a small uptick in employment, according to the survey. NAB chief economist Alan Oster, however, warned that the recovery was weak and patchy. ... (full story)