
Business conditions in Australia back-pedaled sharply in February reversing around half post election gains, a widely-watched monthly business survey released on Tuesday by National Australia Bank (NAB) found. The NAB monthly business survey shows business conditions dropped five points to zero index points in February, while business confidence eased off slightly in the month, falling two points to seven index points. NAB says business confidence softened in the country in February but remains marginally above trend levels, suggesting firms remain hopeful of a recovery despite mixed signals on business activity. "As expected, the sharp turnaround in manufacturing recorded last month was largely unwound, and is now more consistent with the difficult environment that continues to face Australian manufacturers," the report noted. "The next largest deterioration came from wholesale (now very weak), followed by services industries." The survey found the biggest improvement in conditions in February came from the transport and utilities industry. Employment conditions fell from a neutral reading of zero to minus six in the month. "Employment conditions are sobering -- having reversed nearly all post election gains and pointing to further labor market deterioration," the report said. The bank expects Australia's gross domestic product (GDP) growth for 2013/14 to be at 2.7 percent and 3.0 percent for 2014/ 15. NAB also expects unemployment to continue to rise, and hit 6.5 percent by late 2014 and stay higher for longer.
GMT 09:43 2018 Tuesday ,23 January
Global unemployment down but working poverty rampantGMT 15:13 2018 Sunday ,21 January
All you need to know about Davos 2018GMT 22:33 2018 Saturday ,20 January
Calls for action over dirty money flowingGMT 04:42 2018 Saturday ,20 January
Storm caused 90 mn euros in damage: Dutch insurersGMT 07:06 2018 Friday ,19 January
China economy rebounds in 2017 with 6.9% growthGMT 11:35 2018 Thursday ,18 January
'Massive' infrastructure spending needed in AfricaGMT 14:29 2018 Wednesday ,17 January
GE takes one-off hit of $6.2 bn linked to insurance activitiesGMT 18:55 2018 Tuesday ,16 January
London stock market edges to new high

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor