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NAB Business Confidence rose to +11 points

Tuesday, Jan 30 2018
NAB Business Confidence rose to +11 points

The National Australia Bank (NAB) business confidence index rose 4 points to +11 index points in December; the highest level since July 2017, missing the estimate of +12 index points by a narrow margin. Meanwhile, the business conditions index ticked higher to  +13 index points but printed well below the estimate of +15 index points. Still, the actual figure is well above the long-run average of +5 index points.

Key quotes from NAB Group Chief Economist Alan Oster: ''The NAB Business Survey employment index tends to suggest the official figures may be currently ‘overstating’ the degree of job creation. The employment index implies employment growth of a little less than 300K at present, and a slowdown to around 240K per annum over the next 6 months, or a monthly pace of around 20K per month.''

More in this category: « ECB's Praet Urges Stimulus Persistence With Inflation Goal Unmet Eurozone GDP grew by 0.6% in Q4 »

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