A measure of Australian business conditions jumped to its highest in more than 2-1/2 years in December as sales and profitability improved markedly, while confidence held steady at long-run average levels, a survey found on Tuesday.
National Australia Bank’s survey of more than 400 firms found the surprising turn in conditions was underpinned by a low interest rate environment, higher asset prices and a softer Australian dollar.
The report’s index of business conditions rose 7 points to +4 in December, with its measure of sales and profitability both surging 10 points. The employment measure also improved but still implied a flat labour market.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015