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17 Apr 2014
NAB quarterly business confidence deterioates
FXStreet (Bali) - Business confidence eased in Q1 to 6 from 8, while business conditions closed some of the gap to stand at 0 from -2.
Alan Oster, Chief Economist at NAB, notes: "Business confidence eased from its recent high but remained elevated in the March quarter. Business conditions were soft, but are now much better than 6-months earlier. Forward indicators point to further modest improvements over coming months, but still indicate below trend rates of growth and soft demand for labour. The survey measures of price pressures remain muted. Special question on the impact of currency still showing wholesale and manufacturing most affected by the level of the AUD."
Alan Oster, Chief Economist at NAB, notes: "Business confidence eased from its recent high but remained elevated in the March quarter. Business conditions were soft, but are now much better than 6-months earlier. Forward indicators point to further modest improvements over coming months, but still indicate below trend rates of growth and soft demand for labour. The survey measures of price pressures remain muted. Special question on the impact of currency still showing wholesale and manufacturing most affected by the level of the AUD."