Australian May business confidence -3 (prior 1.0) ...Middle East

National Australia Bank Business Survey for May 2024 Business Confidence -3prior revised to 2Business Conditions 6prior 7conditions tends to be a more objective measure than the confidence (sentiment) measureUgly.Inflation indications are not encouraging:Quarterly growth in retail prices jumped to 1.6% from 1.0%Increases in labour costs and purchasing costs up to 2.3% and 1.9%, from 1.5% and 1.3% previouslyNAB comments: "Overall, the message here is a mixed one for the RBAThere are warning signs on the outlook for growth but at the same time reasons to be very wary about the inflation outlook, and we expect the RBA to keep rates on hold for some time yet as they navigate through these con

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