National Australia Bank business survey for April 2025 (survey conducted at the end of that month)

  • business confidence -1 (prior -4)
  • business conditions +2 (prior +3), well below the long-run average

Some of the sub measures

  • sales index held relatively steady at +5
  • employment relatively steady at +4
  • profitability down 4 points to -4, NAB point to higher purchase costs pressuring margins
  • fall of 6 points in the capital spending index to a below average +1, NAB says firms staying away from new investment due to uncertainty over US trade policy

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The Reserve Bank of Australia is expected to cut interest rates again when it meets on May 20. This should help support sentiment.

RBA sydney 24 October 2024
Source: Forex Live