NAB Business Survey Shows a Modest Improvement in Australian Business Activity in October

  • Nov 12, 2019 AEDT
  • Team Kalkine

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.

 

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