National Australia Bank business survey

Business confidence -4

  • prior +6

Business conditions +17

  • prior +18
  • sales index is at a high +27
  • profitability index +14
  • employment index up 1 point to +11

NAB remark:

  • "Overall, the survey confirms the ongoing resilience of the economy through the first months of 2023, though we continue to expect a more material slowdown in demand later in the year when the full effect of rate rises has passed through"
Australia China

China's reopening will be a tailwind for Australianexports