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11 Feb 2014
Australia's business indexes continue to improve
FXStreet (Barcelona) - Australia's business confidence continued to improve in January, posting its first rise in four months from 3 to 4, while business conditions remained strong, reaching an almost 3 year high, from 6 the last month to a Jan reading of 8.
According to Alan Oster, Chief Economist at NAB: "More encouraging results. Business conditions maintained last months momentum and is approaching 3 year highs while confidence was up for the first time in 4 months – both near or above trend levels. Employment index much better, but still suggests soft labour market conditions. Sales and profits dipped slightly, but still healthy."
"Sharp turnaround in manufacturing – surprising in the current environment and will need a lift in domestic demand to be sustained. Better forward indicators give some comfort about near-term outlook. Price inflation still moderate, but driven higher by upstream pressures. Unemployment key to rate outlook. Upside risk to near-term growth forecast, but fundamental outlook unchanged. Final RBA cut to occur in late 2014", Oster added.
According to Alan Oster, Chief Economist at NAB: "More encouraging results. Business conditions maintained last months momentum and is approaching 3 year highs while confidence was up for the first time in 4 months – both near or above trend levels. Employment index much better, but still suggests soft labour market conditions. Sales and profits dipped slightly, but still healthy."
"Sharp turnaround in manufacturing – surprising in the current environment and will need a lift in domestic demand to be sustained. Better forward indicators give some comfort about near-term outlook. Price inflation still moderate, but driven higher by upstream pressures. Unemployment key to rate outlook. Upside risk to near-term growth forecast, but fundamental outlook unchanged. Final RBA cut to occur in late 2014", Oster added.