Conditions continue to recover, but confidence remains fragile.
Both business conditions and confidence continued to rebound in June – though it is important to note they are still weak in level terms.
Business confidence remains very weak despite a rebound in the month.
Business confidence saw its largest decline on record and is now at its weakest level in the history of the NAB Monthly Business Survey.
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Confidence heads lower and Conditions now neutral.
Special survey on the second round impact of recent bushfires.
More of the same in early 2020.
The final monthly business survey of 2019 provides further evidence that activity stabilised in Q4.
Business conditions tracked sideways in the month, and appear to have stabilised at low levels, after declining significantly between mid-2018 and 2019.
The offshore wind industry is booming, with 22GW of installed capacity worldwide and the first project planned for Australia.
Conditions and confidence each saw a small improvement in the month with conditions edging up 1pt and confidence lifting 2pts – though both remain below average.
Business conditions rose 1pt in September to +2 index points. This continues the below average run of business conditions but suggests that the trend weakening since mid-2018 has slowed.
Both business confidence and conditions declined in the month, with both now at +1 index point – well below long-run averages.
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