Australian business conditions hold firm in Oct – survey ...Middle East

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SYDNEY, Nov 14 (Reuters) – Australian business conditions held firm in October even as confidence slipped a little, a survey showed on Tuesday, a resilience that will be tested by higher borrowing costs following a rise in official interest rates last week. The survey from National Australia Bank (NAB) showed its index of business conditions edged up 1 point to +13 in October, while confidence slipped 2 points to -2. The sales index remained very strong with a 2 point rise to +20, while profitability increased 3 points to +12. Only employment eased, falling 1 point to +8. “Business conditions remain healthy, picking up in October and still well above average,” said NAB’s chief economist Al

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