Australia Business confidence (April) 0 (prior -1) and Conditions +14 (prior +16)

National Australia Bank Business Survey for April 2023

• Confidence ‘improved’ to flat on the month.
• Conditions, which is less of a sentiment-driven measure dipped a little to 14 from 16. is still a strong result

NAB comments:

“Demand is still very strong, as demonstrated by elevated trading conditions, and employment is also holding up reflecting the strength of the labour market,”

“Overall, the survey shows the economy remains resilient. We continue to expect consumption growth to slow as the effect of higher rates further impacts in.”

Price indications (inflation
Inflation

Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m

Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m
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• labour costs steady at a quarterly rate of 1.9%
• purchase costs picking up to 2.3%, compared with 1.9% in March