Australia: Business confidence up, conditions down – TD Securities

Sandeep Kanihama FXStreet Contributor

Analysts at TD Securities note that Australia’s NAB business conditions edged 2 pts lower lower in July to +2, remaining below the long-run average (+6pts), while business confidence rose 2pts to +4.

Key Quotes

“Looking at the sub components, trading conditions eased 1 pt, employment eased 5 pts and capacity utilisation reversed the June rise. By sector, conditions were weak in consumer discretionary sectors with manufacturing and transport also weak. Overall a soft tone to July's report.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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