Australian business conditions flatline in May despite confidence rise
Business conditions in Australia fell to 0 index points in May, down from +6 in September 2024, with weak profitability and a 3-point drop in employment to a cyclical low, NAB has reported. Confidence rose to +2 but stayed below average. Capacity utilisation improved, while cost and price growth eased. Retail and manufacturing led sectoral declines.
Business conditions in Australia fell to 0 index points in May, down from +6 in September 2024, with weak profitability and a 3-point drop in employment to a cyclical low, NAB has reported.
Confidence rose to +2 but stayed below average.
Capacity utilisation improved, while cost and price growth eased.
Retail and manufacturing led sectoral declines.
