Australian Business Confidence 0 (prior 5) & Conditions 22 (prior 25)

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Australian Business Confidence 0 (prior 5) & Conditions 22 (prior 25)

<p>National Australia Bank October Business Survey</p><ul><li>Business confidence dropped to zero from 5 in September. </li><li>Business conditions down to 22 from 25 (note that September has been revised lower, to 23)</li></ul><p>The confidence measure is a sentiment-based one, conditions is a little more objective. </p><p>Sub measures show:</p><ul><li>sales down 6 points in the month to a still-strong +31 reading</li><li>profitability +1 to +22</li><li>employment down 3 to +14</li><li>capacity utilisation  85.8%, just below a record high</li></ul><p>NAB remarks on the report:</p><ul><li>Consumers continue to spend despite headwinds from inflation and interest rates, and that run of strength looks to have carried on into October</li><li>Overall, the survey suggests that firms are growing wary of the potential for a slower period ahead, despite ongoing strong demand.</li><li>Strong price growth in October reinforces our expectation that inflation will continue to rise strongly through Q4</li><li>Retail price growth was higher again in October, signalling that goods-side inflation remains a key challenge.</li></ul>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: Australian Business Confidence 0 (prior 5) & Conditions 22 (prior 25)

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