10 Dec 2013
Australia' NAB sentiment broadly unchanged
FXstreet.com (Bali) - Business conditions and confidence was broadly unchanged for the month of November in Australia – with confidence coming at 5 vs 6 in Oct while conditions stood at -3 vs -4 in Oct.
According to Alan Oster, Chief Economist at NAB: "While still weak, business conditions appear to be trending higher. Trading conditions up – especially mining and manufacturing - with capacity utilisation off its recent lows. Against that, the employment index fell considerably – implying further deterioration in unemployment."
"Forward indicators also generally remain soft – albeit capex improved. Price inflation still moderate but margins under pressure from costs. Rate cut still expected in mid 2014. Unemployment key to how many cut(s) required. Domestic and global forecasts largely unchanged" Oster added.
According to Alan Oster, Chief Economist at NAB: "While still weak, business conditions appear to be trending higher. Trading conditions up – especially mining and manufacturing - with capacity utilisation off its recent lows. Against that, the employment index fell considerably – implying further deterioration in unemployment."
"Forward indicators also generally remain soft – albeit capex improved. Price inflation still moderate but margins under pressure from costs. Rate cut still expected in mid 2014. Unemployment key to how many cut(s) required. Domestic and global forecasts largely unchanged" Oster added.