Australia Business Conditions, Confidence Improve In September
The business confidence index rose to -4 from -8 in the previous month. Confidence rose in all industries except finance, business & property services which was flat.
At the same time, the conditions index advanced to zero from -6 a month ago.
Conditions returned to the levels seen in early 2020 though it remained well below average.
The improvement in conditions was driven by a rise in all three sub-components. Trading and profits logged positive figures and the employment index advanced eight points but remained in negative zone.
"While the improvement in conditions and confidence in the last few months has been promising, it is important to remember that in a levels sense, things are still weak," Alan Oster, NAB group chief economist, said.
"With forward orders still negative it is unlikely that capacity utilisation will be fully recovered in the near term," Oster added.
Reprinted from RTTNews，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.