Login
ISCOVER
The latest business survey by NAB Business shows conditions have improved throughout parts of Australia.
The survey showed business conditions rose four points to +6 From 25 - 31 March, above the long-run average of 0 dating back to 1989.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
“The March bounce in conditions partially reversed a loss of momentum evident over the second half of 2014, with the index moderating from +9 mid-year to +3 in December and then consolidating at +2 in January and February,” the survey said.
Business conditions in New South Wales showed improvement, jumping two points to +9, while Victoria showed a strong bounce, up eight points to +15.
Western Australia conditions bounced from -3 to +4, while conditions in Queensland were at -4.
Results were mixed across sectors: construction conditions jumped 13 points to +17, wholesale conditions moved 17 points to +4, while recreational and personal conditions rose seven points to +20.
“In part, this likely reflects a lift in home building activity and, potentially, consumer spending,” the survey noted.
Across the remaining five broad industry groups, conditions were relatively unchanged in March.
The survey also showed that the business confidence index increased by three points to +3 in March.
“This result should not be overplayed, merely reversing a surprising dip in February,” the survey said.
“The RBA lowered rates in February – a move that typically supports confidence.”
