| Actual | Previous | |
| Business Conditions Index | 3 | 3 |
| Business Confidence Index | -5 | -14 |
Highlights
The NAB business survey for Australia showed ongoing but less pronounced weakness in confidence and steady conditions in June. The survey's business confidence index rose from minus 14 in in May to minus 5 in June, continuing the recovery from the sharp fall in the index recorded in the initial reaction to the Iran conflict. The business conditions index was unchanged at plus 3 in June, with respondents reporting slightly weaker employment conditions but stronger profitability and steady trading conditions.
Definition
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.
Description
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.