Powered by MOMENTUM MEDIA
subscribe to our newsletter

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.

Advertisement
Advertisement

PROMOTED CONTENT


“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

Latest News

Reverse mortgage lenders have accessed a small fraction of the potential retiree housing market in Australia, according to Deloitte. ...

Pepper Money has priced its second I-Prime deal for the year, upsizing the figure to $850 million. ...

The LMI provider has announced a new CFO following the resignation of its current CFO, effective 24 September. ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.