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Australian business conditions just bounced back but retailers are still feeling the pinch

Monday, May 07 2018
Australian business conditions just bounced back but retailers are still feeling the pinch

NAB’s monthly business survey showed business conditions returned to record highs in April. However, while the mining and finance sectors continue to strengthen, business conditions in retail turned negative for the first time this year. The sub-index for business conditions rose by 6 points to a reading of +21, fully reversing a sharp fall in the previous month.

Adjusted for monthly volatility, the trend data is representative of broader strength among Australian companies — with Aussie business conditions routinely coming in at or near record highs since the middle of last year. The outlook also improved in April, as business confidence rose to a reading of +10 — up from +8 in the previous month.

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