Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

Business confidence approaches three-year high

12 February 2014 Staff Reporter

The latest business sentiment survey from NAB shows conditions maintained last month’s momentum and are approaching three-year highs.

According to the January monthly business survey, confidence was up for the first time in four months – both near or above trend levels – despite soft labour market conditions.

“Now that conditions are on the rise, confidence may continue its run of surprising post-election resilience for a while longer,” the report read.

“Confidence is now positive for most industries, although wholesale and mining are both negative – significant given the increased importance of mining to the Australian economy.”

The results showed that confidence was generally positive across all states.

“Manufacturing recorded a surprisingly strong turnaround – somewhat counter to other industry indicators. The next best improvement was in construction, followed by retail," it read.

“All other industries deteriorated. Forward orders look more supportive of better conditions, but capacity utilisation remains below long-run averages, and the employment index still suggests a jobless recovery.”

 

Business confidence approaches three-year high
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Network or independent?

Independent
Network, the bigger the better
Network, but midsized
Niche group, small and agile
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.