November 30, 2022

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Australia May 2021 NAB business confidence 20 (prior 26) business conditions 37 (prior 32)

1 min read

National Australia Bank business survey, conducted 18-28 May.

  • confidence 20 (prior 23, revised dwon from 26) 
  • business conditions 37 (prior 32)

Note, the ‘conditions measure tends to be more objective than the confidence measure.

Another solid result for the survey. 

  • trading/sales, +6 points to +47
  • profitability also +6 points to +40
  • employment +5 to +25
  • Capacity utilisation dipped slightly to a still-high 85.1%

NAB remarks:

  • “Conditions rose further, and in particular trading conditions are at a massive +47 index points” 
  • “Confidence was slightly softer but remains very high and the pipeline of work as measured by forward orders held at a high level.” 
  • “This was another very strong read for the business sector and forward indicators point to ongoing strength in the near-term” 
  • “The economy now appears to be entering a new period of growth after a very rapid rebound.”

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