National Australia Bank business survey for the month

The two headlines from the survey are:

  • business confidence 16 (prior revised to 12 from 10)
  • business conditions 15 (prior revised to 9 from 7)

Both showing marked improvement.

Key sub-measures higher for the month:

  • trading conditions+8 points
  • employment index +5 points
  • profitability +4 points.

Says NAB:

  • Employment conditions remain strong, starting to see an uptrend in hiring and investment
  • Businesses are again expanding their workforce, which is key for supporting the labor market recovery
  • economic recovery has very strong momentum and even though government support is tapering