The business conditions index decreased 5pts to +4 in 2019 Q1 continuing the downtrend since early 2018 and is now just above average. Business confidence also fell, declining 2pts to -1 index points suggesting the outlook for conditions is less positive.
According to Alan Oster, NAB Group Chief Economist “Business conditions continued to ease in Q1 suggesting the loss in momentum through 2018 has continued into 2019. Conditions are now only just above average and negative confidence and forward orders suggest the outlook remains weak”.
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