NAB Business Confidence rose to 9

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Tuesday, Jul 11 2017

NAB Business Confidence rose to 9

Business confidence saw a more modest lift, but is still well above the long-run average for the series, rosing to 9 points. Business conditions hit another multi-year high, returning back to around pre-GFC levels in June. The business conditions index rose 4 points, to +15 index points, which is well above the long-run average (+5). Meanwhile, business confidence rose only slightly in June, but despite being less buoyant than business conditions, has held up above long-run average levels.

According to Mr Alan Oster, NAB’s Chief economist, “We continue to be pleasantly surprised by just how upbeat the business sector is, given the context of a fairly beleaguered household sector that has been weighed down by limited wages growth and record levels of debt. In fact, there is even tentative evidence that we are now starting to see some positive spill-overs from the business sector to the broader economy”.

More in this category: « Sentix Investors Confidence rose to 28.3 points Italian Industrial Production increased to 0.7% »

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