National Australia Bank monthly survey of business, for November 2024
Business Confidence drops to -3
prior was +5
Business Conditions drop to +2, the lowest since the pandemic (worst since late 2020)
prior was +7
Some of the sub indexes:
sales come in at +5, from +13 in Octoberprofitability -1 (from +5)employment intentions +2 (from +3)
Cost pressure indicators:
retail prices quarterly
pace of +0.6%, from +1.1% in Octoberinput costs ticked up to +1.1%labour costs
held at 1.4%
Comments from the report:
“While we were optimistic last month, it appears the trend
of well below-average confidence remains intact,”
“Conditions in the goods sector remain weak,”
“Interestingly conditions in the services sectors – recreation &
personal services and finance, business & property services –
continue to track at a higher rate.”
—
The October data was encouraging:
Australian November business confidence and conditions coming up at the bottom of the hour
this report for November, not so much.
AUD/USD not a lot changed:
This article was written by Eamonn Sheridan at www.forexlive.com.