subscribe to our newsletter
Business confidence tumbles

Business confidence tumbles

Business confidence dropped back again in the first quarter of 2015, falling even further below the long-run average level.

The latest NAB Quarterly Business Survey found that this is consistent with a pullback in confidence in the February monthly survey, although this was completely unwound in March.

“Conditions were also softer in Q1, but this is in contrast to the monthly survey which showed an improvement late in the quarter,” the report said.

“Despite better results in the month of March, firms’ expectations in the quarterly survey for future activity generally eased.”

The NAB survey found that, by component, trading and profitability were both lower, while employment was unchanged but still weak.

“The survey continues to show a patchwork economy, with much of the strength restricted to a narrow subset of industries – service sectors were the only industries to record positive business conditions,” the report said.

“Despite the fall in conditions, forward orders were unchanged in the quarter, but are only indicating moderate momentum for business in the near-term.”

Other leading indicators from the survey generally softened.

Business confidence tumbles
mortgagebusiness logo

Latest News

The Australian Banking Association has revealed that it has made further changes to its new draft Code of Banking Practice, which has been s...

The ASX has begun calculating the Bank Bill Swap Rate (BBSW) using a new methodology that puts a greater emphasis on trade activity. ...

The major bank’s approval of a $160,000 business loan guaranteed by an elderly blind woman has been grilled by the royal commission. ...

Promoted Stories

podcast

LATEST PODCAST: Macquarie merger, WA property tax and AMP staff haemorrhage

Do you expect access to credit to get harder this year?