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10 Jun 2014
Australian business conditions ease again
FXStreet (Bali) - Business confidence in Australia came unchanged at 7 during May, while business conditions worsened slightly to -1 in May from 0 in April.
According to Alan Oster, Chief Economist a NAB: "Business confidence survived the government’s ‘tough budget’ intact, but business conditions eased again (reflecting sales)."
"Employment and profits were steady at soft levels. Conditions are mixed across industries, but are generally negative outside of services: ‘bellwether’ sectors (wholesale, transport) still soft, but forward orders bounced-back from last month’s drop."
"Inflation pressures muted, including lower retail prices, allowing the RBA to maintain accommodative policy. NAB forecasts marginally higher with unemployment to reach 6¼% by late 2014. Rate rises not till late 2015."
According to Alan Oster, Chief Economist a NAB: "Business confidence survived the government’s ‘tough budget’ intact, but business conditions eased again (reflecting sales)."
"Employment and profits were steady at soft levels. Conditions are mixed across industries, but are generally negative outside of services: ‘bellwether’ sectors (wholesale, transport) still soft, but forward orders bounced-back from last month’s drop."
"Inflation pressures muted, including lower retail prices, allowing the RBA to maintain accommodative policy. NAB forecasts marginally higher with unemployment to reach 6¼% by late 2014. Rate rises not till late 2015."