National Australia Bank business survey September 2024

Business confidence -2

  • prior -5

Business conditions +7

  • prior +4

NAB commentary:

  • "Some of last month's fall in confidence was reversed in September but confidence remains well below average,"
  • "Interestingly, as we think we are passing through the weakest point in economic growth for this cycle, business conditions have broadly tracked around average through mid-2024."

Conditions sub-measure employment +5 after +1 in August

Labour costs slightly eased to +1.7 from +1.8 in August

Purchase costs fell to +1.2 from +1.6