National Australia Bank Business Survey for April 2022
Business confidence: 10
- prior 16
Business conditions 20 (up well from March. Conditions is a more objective measure than the sentiment-based confidence)
- prior 15
Some of the sub-measures
- sales +4 to a very high +27
- profitability +10 points to +22
- employment index steady at +10
NAB comments:
- "Pleasingly, the improvement was largely driven by much stronger conditions in the recreation & personal services sector, which has lagged through the recent recovery period but is now back above their pre-COVID average level"
- "The April survey results show little let-up in the underlying cost pressures that are driving prices higher, supporting our expectation that inflation will remain elevated in Q2 and likely Q3"
Check out the price pressures (labour, purchase costs and Final product prices) ... all higher
