A few thoughts on the National Australia Bank business conditions and business confidence measures due today
- At 0130GMT
- priors 12 and 7 respectively
ANZ expectations:
- Business conditions have been sitting around elevated levels for a number of months now,which has started to translate into improved employment outcomes.
- We expect conditions remained strong in June, with other business surveys suggesting that each of the manufacturing, services and construction sectors are still in expansionary mode.
WPAC are brief:
- June NAB business survey conditions index has maintained a strong level through the year, up from the 2016H2 average
TD:
- Business confidence has been rising in trend terms from zero in 2015, while conditions have tested the +15 upside a couple of times this year.
- We need buoyant confidence to translate into higher levels of non-mining investment, as we've already seen employment respond in recent months.
