National Australia Bank Business survey
business confidence -46
- -65 prior (revised from -66)
business conditions -34
- -22 prior (revised from -21)
Sub measures in summary:
- trading to -33, down 14 points on the month from -19 prior
- profitability -35 (from -28)
- forward orders -36 (from -28)
- exports -7 (from -6)
- exporter sales -32 (from -21)
NAB comments:
"Confidence saw a rebound, but this provides little comfort given it remains around twice as weak as the 1990s recession"
"Business conditions declined further in the month, with a broad-based deterioration across industries"
employment down from 15 points to -35
- "The decline in the employment index is consistent with a significant shedding of employees by respondents"
- "Overall the survey suggests that the unemployment rate will rise substantially in April."
