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Australian business conditions haven't been this good since before the GFC
“Within business conditions, rising trading conditions (sales) contributed to the outcome yet again… (while) profits were unchanged at solid levels,” said Alan Oster, chief economist at the NAB. And with sales and profitability remaining at elevated levels, that appears to have flowed through to the outlook for hiring, says Oster. “The employment index has now hit its highest level since 2011, having previously been stubbornly muted for some time,” he said. “This month’s jump in employment conditions bodes well for the generally underperforming labour market, and suggests stronger job creation than we ... (full story)
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