National Australia Bank's monthly survey of business, for November 2024
Business Confidence falls to -3
Business conditions fall to +2, the lowest level since the pandemic (worst since late 2020)
Some of the sub-tables:
- sales come in at +5, from +13 in October
- profit -1 (from +5)
- earning intentions +2 (from +3)
Indicators of cost pressure:
- sales prices quarterly pace of +0.6%, from +1.1% in October
- input costs rose to +1.1%
- operating costs held at 1.4%
Comments from the report:
- “While we were upbeat last month, the trend of well-below-average confidence appears to remain intact,”
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“Conditions in the freight sector remain weak,”
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“Interestingly conditions in the service sectors – leisure & personal services and finance, business and property services – continue to be at a higher level.”
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October's data was encouraging:
this report for November, not so much.
AUD/USD little changed:
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