This the National Australia Bank Business survey. This February survey will begin to capture the COVID-19 outbreak, and o course the bushfire impacts.
Business confidence drops to -4
prior -1
weakest since 2013
Business conditions drop to 0
prior revised to 2 from 3
long-run average +6
- sales (4 from 5 prior) and profitability (to -5 from +1 prior and to its lowest since Oct 2013) remain weak
- leading indicators softer
- forward orders fell to -4 from -1
- exporter sales to -9 from -3
- capex to 3 from 7
- better news on employment, up 1 point to 2
NAB asked an extra question this survey - if firms had any impact from the coronavirus:
- Around 50% said yes
- NAB add: "It is very possible this number will rise as the spread of the virus continues - this would most likely result in a further deterioration in confidence and eventually reported business conditions"
