Declining almost 2 points to +12 and +4 index points both the business conditions and confidence indexes were down respectively which in the results of the NAB's latest economic survey shows. Even after declining from the highs seen earlier in 2018, at these levels, conditions remain well above average, while confidence is a little below average.
NAB Group Chief Economist, according to Alan Oster Conditions, have eased since early 2018, due to weakness in the employment component. Mr. Oster, said, "Although the survey at around 20,000 per month at these levels still suggests ongoing employment growth. We should see recent labor market gains at this rate to be maintained".
Across most industries except wholesale, construction and transport and utilities conditions eased. Overall, lowest in retail the only industry to currently record negative conditions in trend terms and conditions remain highest in mining.
Mr. Oster said, "While the survey suggests the retail, industry remains weakest as conditions remain broadly favorable across industries – and in trend terms continues to deteriorate. To turn the situation around anytime soon retail is most unlikely and has now lagged for some time and with the weaker outlook for the ongoing structural changes and consumer in the sector".
National Australia Bank Limited the company advises that the Board has approved changes to the terms and conditions of the DRP (Dividend Reinvestment Plan) and BSP (Bonus Share Plan), in accordance with ASX Listing Rule 3.10.8, effective 1 November 2018. The terms and conditions of the DRP and BSP have been changed so as to reflect the updated ASX Listing Rules, to align with market best practice and to update terminology.
National Australia Bank Limited (ASX: NAB) recently noted the release of the Australian Prudential Regulation Authority (APRA) discussion paper, on loss absorbing capacity of authorized deposit taking Institutions. The proposals are consistent with the Financial System Inquiry recommendation to implement a framework sufficient to facilitate the orderly resolution of Australian ADIs.
This represents an incremental increase of $16 to $19bn of Total Capital, Based on NAB’s RWA of $390bn at 30 September 2018, with a corresponding decrease in senior debt issuance. APRA’s consultation process completes on 8 February 2019. NAB will respond as part of the broader consultation processes underway relating to capital framework reforms.
National Australia Bank Limited traded at a market price of $24.420 which is near its 52-week low. The stock has however witnessed a performance change of -18.61% over the past 12 months.
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