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Business confidence sags in August and September - NAB survey
Topic Started: 9 Sep 2014, 03:51 PM (453 Views)
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Business confidence sags in August

September 9, 2014 - 12:09PM
Mark Mulligan

Business confidence sagged in August, wiping out July's improvement, as wholesalers, the transport industry and utilities joined mining companies in downgrading their outlook for trading conditions after painting a brighter picture the month before.

However, business confidence and conditions remained resilient over the longer run, with both much stronger than a year ago.

According to the latest monthly business survey by National Australia Bank, the business confidence index dropped back to its June level of 8, after spiking to 10 in July. Business conditions also fell back, from 8 to 4, while trading and profitability returned to or below their June levels.

The latest survey, which covered 500 companies during the week to September 2, found "a sharp drop in profits and sales drove the unwinding in August".

"The jump in business conditions last month was surprising," said NAB, "so some payback in August was expected."

"The conditions index unwound most of July's narrowly based gains – manufacturing, construction and retail fell most.

Read more: http://www.smh.com.au/business/the-economy/business-confidence-sags-in-august-20140909-10e9cv.html
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Consumer Sentiment In Australia Remains Strong

Greg McKenna

ANZ and Roy Morgan have just released the latest update for their weekly consumer confidence data which shows that confidence remains strong around the long-run average.

The index showed that in the week ending Sunday, September 7, confidence rose 0.6% to 113.3 driven largely by consumers’ outlook toward their financial situation, according to the ANZ’s economics team.

Importantly, the subindex most closely correlated with consumer demand, household perceptions about their ‘financial situation compared to a year ago’, is showing continued momentum. After falling sharply in May and June, the subindex rebounded in July and August and continues to improve into September (up +2.9% last week). This is a positive sign for household spending in Q3.

Chief economist Warren Hogan reiterated his view that consumption will pick up into the end of the year, saying in a note accompanying the release that:

“The recent stabilisation in confidence is a positive sign and ANZ’s base case remains that consumer spending will grow moderately this year, before improving next year. The labour market will be important for the outlook, so it is encouraging that the August ANZ job ads report yesterday showed that labour demand is gradually strengthening.”

Not a boom but good economic news nonetheless.

Read more: http://www.businessinsider.com.au/consumer-sentiment-in-australia-remains-strong-2014-9
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Australian business confidence falls for second month as construction orders drop

October 14, 2014 - 1:16PM

Australian business confidence has taken a dive in the face of tough trading conditions and dwindling profits.

Confidence is at its lowest level since it bounced last year, just before the federal election that brought Tony Abbott to power, according to figures from National Australia Bank on Tuesday.

The bank's monthly business survey showed confidence had fallen to five points in September, from seven in August.

Actual business conditions were down to one point - a dramatic fall from July when it was at eight points, and profitability was at zero.

"The multi-year high for business conditions in July appears to have been a flash in the pan, with the index falling for the second straight month," NAB chief economist Alan Oster said.

Business conditions were still well up on last year's averages but below their long-run average, Mr Oster said.

Read more: http://www.smh.com.au/business/the-economy/australian-business-confidence-falls-for-second-month-as-construction-orders-drop-20141014-115ruz.html
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