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AUSTRALIA DATA: Tentative Signs Economy Stabilising, Price Pressures Moderate

AUSTRALIA DATA

NAB October business confidence rose to +5 from -2, the highest since January 2023. Conditions were stable at +7, slightly above the series average, signalling that the economy continues to grow. Unchanged RBA rates for a year appears to be helping sentiment stabilise with Westpac’s latest consumer confidence reading also rising, while NAB business prices and costs moderated further with some measures now below historical averages. 

Australia NAB business survey

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NAB October business confidence rose to +5 from -2, the highest since January 2023. Conditions were stable at +7, slightly above the series average, signalling that the economy continues to grow. Unchanged RBA rates for a year appears to be helping sentiment stabilise with Westpac’s latest consumer confidence reading also rising, while NAB business prices and costs moderated further with some measures now below historical averages. 

Australia NAB business survey

Keep reading...Show less