The NAB Business Survey for Australia showed improved conditions and steady sentiment in August after officials at the Reserve Bank of Australia left policy rates on hold early that month. A separate survey providing more up-to-date consumer confidence data showed consumer sentiment weakened at the start of September.

The survey's business conditions index rose from 11 in July to 13 in August, with respondents reporting improved trading conditions, employment, and profitability and flat forward orders. The survey showed mixed price pressures, with its measure of quarterly change in labour costs and retail prices slowing from July but purchase costs increasing at a slightly faster pace. The survey's business confidence index rose from 1 in July to 2 in August, with solid confidence in the manufacturing sector and transport and utilities sectors offset by weak sentiment in the retail and mining sectors.

The National Australia Bank (NAB) Business Survey is based on a survey of around 500 firms across the non-farm business sector on their assessment of current business conditions and their sentiment about the outlook. The survey's business conditions index covers trading, profitability, employment, forward orders, stocks, and exports, with respondents also providing responses on changes in costs and selling prices. The survey is conducted in the second half of each month.

The survey of business conditions and confidence offers timely updates on how Australian companies are performing and reacting to unfolding events including news about the overall economy and policy developments. as well as moves in the stock market and changes in interest rates. Investors can use the data to help forecast economic activity and better understand how business conditions and expectations affect sales, employment, investment and other economic outcomes.