National Australia Bank Business survey for February 2022 improves as the POmicron wave receded.
Sub measures in the survey improved:
- sales +2 to 10
- profitability up 3 to +5
- employment +9 points to 8
NAB chief economist Alan Oster
- "the survey for the month was largely completed before the invasion of Ukraine, so we will have to wait to see how big the impact of the conflict will be on confidence."
Inflation pressures continued:
- purchase costs +2.7% q/q
- labour costs +1.7%
- retail prices +2.1%
