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On the docket for Tuesday in Australia

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The National Australia Bank Business Survey for July 

Business Confidence

  • expected 15, prior 11
  • the drop in June was 9 points from May, its biggest in 11 months 
Business Conditions

  • expected 10, prior 24
  • the drop in June (largest fall in 14 months) was from a record might in May (at 36)

As noted above, there were substantial drops for both of the headline measures in June. Business conditions are expected to fall again given widespread lockdowns in July. Also weighing as negatives are:

  • border closures between states
  • supply shortages and bottlenecks
  • business cost rising 

Declines in all key sub measures of trading, employment and profitability are expected.

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