Andrew Hanlan, analyst at Westpac, notes that Australian Business confidence was down 1pt to 0 while Business conditions were up 1pt to +2.
Key Quotes
“As we approach the final quarter of 2019, business conditions remain stubbornly weak (despite additional policy stimulus) and business confidence has softened – as reported by the NAB business survey for the month of September.”
“The survey was conducted from September 18 to 30.”
“The business conditions index edged up 1pt in September, partially reversing the drop in August, to be at only +2. This is a below average reading (for the monthly series dating back to mid-1997).”
“The conditions index has consolidated at low levels over recent months, with the September reading in line with the average of the previous four months.”
“Business confidence fell by 1pt to 0, a reading well below average. This result, along with that in March, is the softest since mid-2013.”
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