Free Trial

Business Activity Weakening But Cost/Price Pressures Worrying

AUSTRALIA DATA

The May NAB business survey showed further deterioration in conditions and confidence. They fell one point to +6, lowest since January 2022, and 5 points to -3, the first negative since November 2023, respectively. Despite the survey showing slower business activity, price and cost measures picked up which NAB pointed out is consistent with the return of inflation to target being “gradual and uneven”. The RBA believes that supply and demand are not yet in balance and this survey is in line with that view.

Australia NAB business survey

Keep reading...Show less
240 words

To read the full story

Close

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.

The May NAB business survey showed further deterioration in conditions and confidence. They fell one point to +6, lowest since January 2022, and 5 points to -3, the first negative since November 2023, respectively. Despite the survey showing slower business activity, price and cost measures picked up which NAB pointed out is consistent with the return of inflation to target being “gradual and uneven”. The RBA believes that supply and demand are not yet in balance and this survey is in line with that view.

Australia NAB business survey

Keep reading...Show less