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NAB Business Conditions Survey shows optimistic view

Thursday, Apr 21 2016
Latest NAB Business Conditions Survey showed that in Q1 2016, both business conditions and confidence eased modestly, to +9 and +4 index points respectively, but these are still solid outcomes particularly for business conditions, which remains well above long-run average levels. This result is not overly surprising, however, with the NAB Monthly Business Survey suggesting both conditions and confidence gained even more momentum late in the quarter – pointing to a non-mining recovery that is gaining traction and becoming more broad-based.
However, the real insight from this survey is how firms perceive the outlook facing their business and the economy. According to NAB Chief Officer Mr Oster, “firms are actually telling us that they not only remain quite upbeat about the outlook, but they have revised up their expectations relative to last quarter”. This optimistic view of the outlook suggests good things for the labour market and future investment.
 
Aussie is currently being traded around 0.78 area. Pair is likely to find support around 0.7760 handle and resistance above 0.7850 level. Later today, in the US session, Unemployment Claims and Philly Fed Manufacturing Index figures are scheduled for a release.
More in this category: « Existing Home Sales at an annual rate of 5.33 million UK Retail Sales fell more than expected »

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