National Australia Bank business survey, conducted 18-28 May.
- confidence 20 (prior 23, revised dwon from 26)
- business conditions 37 (prior 32)
Note, the ‘conditions measure tends to be more objective than the confidence measure.
Another solid result for the survey.
- trading/sales, +6 points to +47
- profitability also +6 points to +40
- employment +5 to +25
- Capacity utilisation dipped slightly to a still-high 85.1%
- “Conditions rose further, and in particular trading conditions are at a massive +47 index points”
- “Confidence was slightly softer but remains very high and the pipeline of work as measured by forward orders held at a high level.”
- “This was another very strong read for the business sector and forward indicators point to ongoing strength in the near-term”
- “The economy now appears to be entering a new period of growth after a very rapid rebound.”