Australian business conditions reached a record high in October, as reported profitability rose sharply, which suggests that robust employment growth should continue through 2018, according to analysts at ANZ.
“Consumer sentiment has also been steadfast, slightly above its long-term average. The strength in conditions is particularly pleasing given recent political uncertainty. However, with wage growth continuing to disappoint – even after the strongest run of employment growth in two decades – the downside risks are never far away.”
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