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Business confidence in Australia rose in June to 6 from the previous value of 3. The National Australia Bank's business confidence report - a study of the current business conditions in Australia shows the dynamics of the Australian economy as a whole in the short term. Positive economic growth is bullish for the Australian currency. Conditions index in the Australian business community have also improved from 10 to 12.
The employment index rose to +4 (its average growth rate of about 1.2). Strengthening of the index shows a good long-term employment growth.
Planned capital expenditures to increase in June. The measure in the retail price survey declined by -0.2% during the 3 months to June, so that in the short-term the measure of inflation is still on the weak side
NAB survey was conducted in view of the increased uncertainty surrounding Brexit, and on the eve of the Australian federal election. Despite the risk nature of these events, the confidence of the business community in Australia continues to grow.
|remaining time till the new event being published|