National Australia Bank Business Survey for April 2023
- Confidence 'improved' to flat on the month.
- Conditions, which is less of a sentiment-driven measure dipped a little to 14 from 16. is still a strong result
NAB comments:
"Demand is still very strong, as demonstrated by elevated trading conditions, and employment is also holding up reflecting the strength of the labour market,"
"Overall, the survey shows the economy remains resilient. We continue to expect consumption growth to slow as the effect of higher rates further impacts in."
Price indications (inflation ) from the survey:
- labour costs steady at a quarterly rate of 1.9%
- purchase costs picking up to 2.3%, compared with 1.9% in March
