NAB's June quarter business survey has been released, with business confidence coming at 2 vs 4 previous, while business conditions stood at 11 vs 10.
NAB Quarterly Business Survey - June Quarter 2016
"Australia’s non-mining recovery remains on track according to the June quarter NAB Business Survey. Leading indicators also suggest the outlook remains positive, although momentum has eased a little."
"Despite that, firms are continuing to suggest quite strong investment intentions for the next 12 months, consistent with the steady rise in capacity utilisation rates, while near-term employment intentions improved and longer-term employment intentions remained relatively solid."
"Inflation measures in the Survey remained subdued, which may point to another soft CPI outcome for Q2, while inflation expectations for the next 3 months point to a continuation of this trend."
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