Australian May business confidence and conditions both fall

National Australia Bank Business Survey results.

• Confidence 6, prior 10
• Conditions 16, prior 20

Despite the drop in both they are still solid. the long-run confidence level is around 6. Conditions are sell above their average.

Sub measures were solid also:

• sales -3 points to +24
• profitability -4 points to +17
• employment index +1 to +11

NAB:

• Overall, the survey indicates the economy has maintained its momentum into Q2 and most businesses are in a strong position despite the inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term headwinds, with the lift-off in interest rates and global growth risks yet to significantly impact Australia's economic trajectory,
• There was a slight easing in cost growth in May but inflation remains a key challenge.

AUD not doing much on the data: