| Actual | Previous | |
| Business Conditions Index | -1 | 4 |
| Business Confidence Index | -8 | -6 |
Highlights
The NAB business survey for Australia showed weaker confidence and conditions in August. The survey's business confidence index fell from minus 6 in July to minus 8 in August, but remains well above the extreme lows recorded in the initial reaction to the Iran conflict. The business conditions index fell from plus 4 in July to minus 1 in August, with respondents reporting weaker profitability and 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.