Australia’s August Business Survey released by the National Australia Bank (NAB) report –
- Confidence in August at 1 vs. 4 in July.
- Conditions in August at 1 vs. 2 in July.
- The employment sub-index rose from 0 in July to 2 in August.
NAB Group Chief Economist Alan Oster said: ” “Business confidence and our other forward-looking indicators suggest there is unlikely to be an imminent turnaround in business conditions.”
“While conditions are still positive, they have now been below average for some time and point to a significant loss of momentum in private demand,” Alan added.
The Aussie corrects further from six-week tops on weak NAB Australian Business Survey, with the AUD/USD pair testing daily low near 0.6850 region.
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