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18 Jul 2013
Australian business confidence deteriorates
FXstreet.com (Barcelona) - Business conditions in Australia came at -1 in Q2 vs 2 in Q1. Meanwhile, Business Conditions also worsened, but not as much, staying at -4 in Q2 vs -3 in Q1.
According to NAB: "Business conditions struggle in the June quarter and confidence falls back, driven by a pessimistic mining sector. Falling equities and offshore concerns likely to be weighing on sentiment. Little sign yet that lower interest rates and AUD are helping. Conditions still very subdued in trade and consumer dependent sectors. Forward indicators still worrying. Capex expectations a little stronger but mining much weaker. Falling prices imply soft Q2 inflation."
According to NAB: "Business conditions struggle in the June quarter and confidence falls back, driven by a pessimistic mining sector. Falling equities and offshore concerns likely to be weighing on sentiment. Little sign yet that lower interest rates and AUD are helping. Conditions still very subdued in trade and consumer dependent sectors. Forward indicators still worrying. Capex expectations a little stronger but mining much weaker. Falling prices imply soft Q2 inflation."