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- Australian business conditions index rose by 2 pts to +15 index points in August, recovering some of the ground lost in recent months
Australian business conditions index rose by 2 pts to +15 index points in August, recovering some of the ground lost in recent months
The business conditions index rose by 2pts to +15 index points in August, recovering some of the ground lost in recent months. Business confidence fell 3pts to +4 index points and is now below average.
According to Alan Oster, NAB Group Chief Economist "The business conditions index rebounded a little in August, and while it is someway off the highs earlier in the year, it remains well above average. This is a welcome sign of a stabilisation in business conditions".
"The rise in the month was driven by an improvement in both profitability and trading conditions, while the employment index was unchanged" said Mr Oster.
According to Mr Oster "The employment index continues to suggest growth in employment of around 23k per month over the next 6 months. With a stabilisation in the labour force participation rate, this should be enough to see the unemployment rate decline further over the rest of 2018".
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