The NAB business survey for Australia showed weaker conditions and steady sentiment in September 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 improved at the start of October.

The survey's business conditions index fell from 14 in August to 11 in September, with respondents reporting weaker trading conditions, employment, and profitability but some improvement in forward orders. The survey also showed weaker price pressures, with its measure of quarterly change in labour costs and purchase costs slowing from August and retail prices increasing at an unchanged pace. The survey's business confidence index was unchanged at 1, with sentiment still weak but improving 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.