A recently released NAB Monthly Business Survey indicated a slight improvement in conditions by 2 points and confidence by 1 point in October 2019. The survey also demonstrated that:
- Business conditions increased to +3 but remained below long-run average of +6.
- Business confidence rose to 2 points against zero in September.
- Sales picked up in October, stabilising post months of weakness.
- Sales index improved to +7, while employment stayed at +4.
As per NAB Chief Economist, October’s survey results pointed to modest outcomes in the Australian business sector; however, the forward-looking indicators seem slightly better and indicate a stabilisation in conditions.