Australia’s business confidence rises despite weak January
Australia’s business conditions declined in January, reversing prior gains, as trading and profitability weakened, per NAB’s survey. Confidence rose six points to +4 but remained weakest in retail and wholesale (-6). Capacity utilisation fell to 82.0 per cent. Retail contracted while wholesale and manufacturing improved. Despite resilient demand, economic growth remains subdued.
Australia’s business conditions declined in January, reversing prior gains, as trading and profitability weakened, per NAB’s survey.
Confidence rose six points to +4 but remained weakest in retail and wholesale (-6).
Capacity utilisation fell to 82.0 per cent.
Retail contracted while wholesale and manufacturing improved.
Despite resilient demand, economic growth remains subdued.
