Business confidence rises to 7, a three-year high
strength in services and constructionprior 5prior 9
Some of the sub measures:
business sales 11 in July, from 8 priorprofitability 2, prior 4employment 1, from 4 priorquarterly growth in retail prices 1.1% in July, from 0.5% in Juneproducer prices rose 0.9%NAB comment on their report, in brief:
"Overall, the survey points to an improvement in activity through Q2 and suggests that the worries globally have not materially influenced local hiring and investment decisions""Generally, the services sectors, both consumer facing and for businesses, are stronger while retail and wholesale remain weaker." "The survey is consistent with improving economic growth, although still highlights the challenges around cost pressures faced by many businesses"Price indicators in the survey pointed to pockets of ongoing inflationary pressures. Notably, quarterly growth in retail prices accelerated to 1.1% in July, from 0.5% in June, while producer prices rose at a 0.9% pace. "The survey is consistent with improving economic growth, although still highlights the challenges around cost pressures faced by many businesses," said Auld.
Still ahead, I'm expecting a 'hawkish cut' from the Reserve Bank of Australia today:
Reserve Bank of Australia expected to cut its cash rate this week by 25bpRBA poised to cut cash rate tomorrow after July pause This article was written by Eamonn Sheridan at investinglive.com.Hence then, the article about australian data july business confidence 7 vs prior 5 was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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