NAB Australian business confidence for Q2

  • Business confidence for Q2 is 4 vs. prior 0
  • Business conditions for Q2 is 4 vs. 3
  • Capex plans for the next 12 months come in at +18 vs. 21 prior
  • Apart from mining, all sectors turned positive
  • Capex plans positive for all sectors except mining and wholesale

Comments from NAB chief economist Alan Oster:

  • Australia continues to face a 'patchwork' economy
  • Q2 survey finally gave some indication that positive momentum is broadening across sectors

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AUD barely changed.