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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
The NAB business survey for August showed that activity in Australia while off its peaks remains resilient. Business conditions rose to 13 from an upwardly revised 11 and confidence, which has been volatile, rose to 2 from a downwardly revised 1, the highest since January. This data should reassure the RBA that it can achieve a soft landing as with rates steady at 4.1% business isn’t running too hot or collapsing and labour demand remains strong.
- The Q3 average of business confidence is signalling that GDP growth may trough around the end of the year.
Australia NAB business confidence vs GDP y/y%
Source: MNI - Market News/ABS/Refinitiv
- All the current conditions components were higher. Employment rose 3 points to 9.2, still above average and the highest since April, signalling that labour demand remains robust. Forward looking orders rose to +0.3 from -0.9 and while exports and exporters sales were lower they both remained above the historical average.
Australia NAB employment vs employment y/y%
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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