lundi 13 avril 2015
Australia business confidence picks up in March: NAB
Posted on 19:22 by nice news
Australian business sentiment and conditions appeared to have picked up in March, according to the latest monthly National Australia Bank survey, as the February cut to the cash rate fed through to housing and other non-mining activity.
NAB's much-watched business survey, which covers 400 companies across most sectors, found a 3-point improvement in confidence, to 3 index points, and a 4-point lift in conditions, to 6. Both trading and profitability improved, and there was also a small uptick in employment, according to the survey.
NAB chief economist Alan Oster, however, warned that the recovery was weak and patchy. He attributed the turnaround to the Reserve Bank of Australia's monetary stimulus, but cautioned that overheating property markets could check further easing.
"Low interest rates are continuing to have a notable impact on the particularly sensitive sectors of the economy, like investor housing, but pass-through to the broader economy has been somewhat limited," he said.
NAB's much-watched business survey, which covers 400 companies across most sectors, found a 3-point improvement in confidence, to 3 index points, and a 4-point lift in conditions, to 6. Both trading and profitability improved, and there was also a small uptick in employment, according to the survey.
NAB chief economist Alan Oster, however, warned that the recovery was weak and patchy. He attributed the turnaround to the Reserve Bank of Australia's monetary stimulus, but cautioned that overheating property markets could check further easing.
"Low interest rates are continuing to have a notable impact on the particularly sensitive sectors of the economy, like investor housing, but pass-through to the broader economy has been somewhat limited," he said.
Australia business confidence picks up in March: NAB
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