National Australia Bank business survey for the month
The two headlines from the survey are:
- business confidence 16 (prior revised to 12 from 10)
- business conditions 15 (prior revised to 9 from 7)
Both showing marked improvement.
Key sub-measures higher for the month:
- trading conditions+8 points
- employment index +5 points
- profitability +4 points.
Says NAB:
- Employment conditions remain strong, starting to see an uptrend in hiring and investment
- Businesses are again expanding their workforce, which is key for supporting the labor market recovery
- economic recovery has very strong momentum and even though government support is tapering
