National Australia Bank Business Survey for March 2024:
Business Confidence 1
- prior 0
Business Conditions 9
- prior 10
Some of the sub indexes:
- business sales steady at +14
- employment steady +6
- profitability
fell 4 points to +6 - capacity utilisation 83.2%, from 83.4% – pointing to supply and demand coming into better balance
Cost pressures remain evident:
- retail prices +1.3% q/q (prior +1.4%)
- purchase
costs 1.4% (prior 1.8%)
NAB says on price pressure:
- “This aligns with our expectation that progress on bringing
inflation back to target will be gradual from here, and we
expect that to be further reinforced by the Q1 CPI result later
in April”
AUD little changed
This article was written by Eamonn Sheridan at www.forexlive.com.
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