Analysts at TD Securities suggest that while Australian Business Confidence jumped from 0 to 6 in NAB’s Q2 Business survey, possibly reflecting the election outcome and rate cut optimism, business conditions eased in the quarter (from 4 to 1) with trading, profitability and employment all declining.
Key Quotes
“There was little to suggest an improvement in business conditions in the months ahead with forward looking indicators weakening. Expectations of employment eased over 3mth and 12mth horizons, pointing to a possible loss of labour market momentum.”
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