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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
NAB business confidence fell 6 points to -9 in November, the lowest since the Covid-impacted July 2020 and well below average. Business conditions fell 4 points to +9, the lowest since the start of 2022 but above average. Despite weaker activity, labour demand remained robust with the employment component unchanged and above average. Rising costs are likely to have weighed on sentiment along with the more difficult trading conditions.
- In terms of conditions, profitability fell 5 points to 6 and trading 6 points to 13, with both now just above average. The outlook is not promising with forward orders declining 3 points to -4, which is below average.
- Exports were a bright spot with rising 2 points to +1 and sales 12 points to +7, the highest since October 2018.
- Capex fell 1 point to +4 and inventories fell. Capacity utilisation continues to trend lower and was 83.9% in November.
Australia NAB business conditions vs orders
Source: MNI - Market News/Refinitiv
Australia NAB employment
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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