There was decent jump in Australian Business Conditions from 13 in Dec to 19 in Jan, just shy of the historical high of 20.5 hit in Oct 2017, notes the research team at TDS.
“Confidence edged higher too from 10 to 12. Big movers on the month were the trading (from 18 to 26) and profitability subcomponents (from 14 to 23). Labour costs were close to unchanged. RBA's Ellis also spoke today, expecting wage growth to pick up eventually, despite the current reluctant tone from companies to raise salaries for fear of becoming uncompetitive.”
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