Australian June business confidence rises to 0, from prior -3

<p>National Australia Bank Business Survey for June 2023</p><p>Business conditions 0.0</p><ul><li>prior -3.0</li></ul><p>Business conditions 9.0</p><ul><li>prior 9.0</li></ul><p>Subindexes in the month</p><ul><li> sales down a point to a
still-strong +14</li><li>employment index unchanged at
+5</li><li>profits +2 to +9</li><li>forward orders +3 to -2</li></ul><p>NAB comments:</p><ul><li> "Business conditions have eased notably since January but
remain above their long run average, a sign of ongoing
resilience" </li><li>"We continue to see warning signs in the survey about the
outlook for growth but as of June firms were yet to see a real
deterioration"</li></ul><p>
More:</p><ul><li>Labour costs +2.6% q/q</li><li>Input cost growth +2.3% q/q</li><li>Capacity utilisation fell to 83.5%, its lowest since early
last year.</li></ul><p>AUD/USD update, not a lot changed on the data:</p>

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