Analysts at TDS note that Australia’s home loans for Jan was virtually on expectations at -1.1% (mkt -1.0%).
“NAB Business Conditions for Feb at +21 (from +18), a record high, and consistent with the RBA's upbeat outlook. Business confidence eases a touch to +9 (from +11). NAB reported that the employment sub component of the business conditions survey hit a record high to +16. If sustained it suggests monthly jobs growth of +27k (but this is below the monthly average for the last yr). Retail is underperforming most sectors, but it recorded its highest reading in 8 months in the survey. Business conditions are strong across all states.”
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