National Australia Bank Business Survey for March 2024:
Business Confidence 1
- prior 0
Business Conditions 9
- prior 10
Some of the sub indexes:
- business sales steady at +14
- employment steady +6
- profitability fell 4 points to +6
- capacity utilisation 83.2%, from 83.4% - pointing to supply and demand coming into better balance
Cost pressures remain evident:
- retail prices +1.3% q/q (prior +1.4%)
- purchase costs 1.4% (prior 1.8%)
NAB says on price pressure:
- "This aligns with our expectation that progress on bringing inflation back to target will be gradual from here, and we expect that to be further reinforced by the Q1 CPI result later in April"
AUD little changed
