David Plank, head of Australian economics at ANZ, points out that the Australia’s business conditions rose to 7.0 in March, reversing the fall in February and moving back above the long-run average.
Key Quotes
“The details of the report were consistent with the headline. All the sub-indices improved other than capital expenditure.”
“Across the states, conditions rose sharply in New South Wales, to the highest level since September last year. Conditions dropped a reasonable amount in Tasmania, but are still higher than other states. Conditions improved in South Australia and Western Australia and were little changed elsewhere.”
“Across industries, retail conditions were up sharply, to the highest level since the middle of last year. Mining rose after falling sharply in February, while conditions in the construction sector were also up. The wholesale sector experienced a notable decline.”
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