Due from Australia on Tuesday is National Australia Bank business confidence and business conditions for September. it will be released at 0030GMT.
Last month we had;
- National Australia Bank business confidence for August come in at 8 (back to levels seen in June)
- National Australia Bank business conditions for August come in at 4
From the NAB comments on the report for last month:
- Business confidence remains resilient despite easing a little in August, supported by positive forward orders, subdued cost pressures and more stable consumer confidence.
- Positive business conditions are also helping despite falling back in the month.
- Confidence varies significantly across industries, with construction firms the most optimistic by a large margin.
- NAB forecasts broadly unchanged following modest Q2 GDP growth (as expected). Rates still on hold till late 2015 –with the move then up . Only a sharp deterioration in the labour market (not expected) could see rate cuts
I don’t have any ‘expected’ (i.e. the consensus expectations of surveyed economists) for these two data points.
