Australian November business confidence and conditions coming up at the bottom of the hour
Australian November business confidence and conditions coming up at the bottom of the hour
Business Confidence: Improved significantly, rising 7 points to +5, the highest since early 2023.
Business Conditions: Stable at +7 index points.
Trading Conditions: Slight increase, up 1 point to +13.
Profitability: Steady at +5 index points.
Employment Intentions: Slight decline, down 2 points to +3.
Cost Pressures: Easing trends observed:
Labour Costs: Fell to 1.4% (quarterly equivalent), down from 1.9% in September.
Purchase Costs: Dropped to 0.9% from 1.3%.
Product Prices: Edged down to 0.5% from 0.6%.
Forward Orders: Showed slight improvement, signaling a positive outlook.
Economist's Note: The rise in confidence after a weak period is a good sign for the economy.
