Australian August Business confidence 2 (was 1 in July) & Conditions 13 (11 in July)

<p>National Australia Bank Business Survey for August 2023</p><p>Australian business
conditions showed a broad
uptick in sales, profits and jobs</p><ul><li>employment sub index +3 to +9</li><li>sales index +1 to +18</li><li>profitability
+2 to +13</li><li>forward orders, an indicator for the demand outlook +1 to zero</li></ul><p>NAB comments:</p><ul><li>"There was a notable rise in the employment index which is
well above the long-run average, suggesting labour demand has
remained strong into the second half of the year,"</li><li>
"Price growth also remains elevated which reflects the
considerable cost pressures businesses are facing, as well as
the ongoing resilience of demand… We expect inflation to
remain elevated in Q3."</li></ul><p>Labour costs +3.2% in the past
three months</p><ul><li>prior reading was +3.7%</li></ul><p>Purchasing costs + 2.9%</p><ul><li> from 2.8%</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.