National Australia Bank's quarterly business survey does not attract the focus their monthly one does
Q2 business confidence -15
- prior revised to -12
Business conditions over the next 3 months -22 (from -4 in Q1 survey)
Trading conditions next 3 months -23 (-3)
Profitability next 3 months -28 (-9)
What a dour outlook. Given the global and domestic economy not unreasonably so.
AUD shows little response.
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Ther quarterly survey differs to the monthly survey; says NAB:
- The quarterly NAB Business Survey gives a more in-depth probe into the conditions facing Australian business than the monthly survey, and also provides extra information about how firms perceive the outlook for their respective industries.
And:
- The quarterly survey has a bigger sample than the monthly, and has additional metrics such as expected capital expenditure (12m ahead) and expected employment (12m ahead). Both are good sources of information for the intentions of businesses to invest in capital and labour.
