Australia: Sentiment around commercial property moderated a little in Q4 - NAB
Overall sentiment around commercial property (measured by the NAB Commercial Property Index) moderated a little in Q4 (down 1 to +17) but is still well above the long-term average (+2) for Australian economy, explains Alan Oster, Group Chief Economist at NAB.
Key Quotes
“NAB Group Chief Economist said “Positive sentiment likely reflected a steady economy, healthy employment growth and strong business conditions.”
“CBD Hotels out-performed all other sectors.”
“Industrial sentiment also lifted, amid continued reports of strong warehousing and logistics activity linked to growth in online retail (including Amazon) and e-commerce.”
“Office has eased but is still out-performing.”
“But Retail sentiment fell quite sharply and turned negative for the first time since mid-2014.”
“Not surprisingly, NAB’s Business Survey also showed Retail was the only industry sector reporting negative business conditions” said Mr Oster.
“Overall confidence levels fell to their lowest levels in 2 years and fell in all sectors - except CBD Hotels.”
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.
