HomeEconomyAustralian business activity strong in April, cost pressures remain a challenge Economy Australian business activity strong in April, cost pressures remain a challenge By inew May 8, 2023 0 56 views Share FacebookTwitterPinterestWhatsApp NABZY +1.% Add to/Remove from Watchlist Join the watch list Add location Job has been successfully added to: Please name your portfolio type: purchase Sell date : quantity: price point value: Leverage: 1:1 1: 1: SYDNEY (Reuters) – Despite high inflation and rising interest rates, business conditions in Australia remained strong in April, supported by robust sales and a strong labor market, while cost pressures Still poses a challenge for businesses. National Australia Bank Survey (OTC: 85NABZY) Ltd (NAB) published on Monday Business conditions index down two points + in April, but still well above its long-term average. The volatility indicator of confidence rose slightly to 0, compared with -1 in March, which indicates that companies are optimistic and pessimistic in equal proportions. NAB Chief Economist said, “Demand remains very strong, with improving terms of trade suggesting that employment has also remained strong, reflecting labor market strength. Strength” Alan Oster. “Overall, surveys suggest the economy remains resilient. We continue to expect slower consumption growth as rising interest rates further impact households, but this The speed and magnitude of the situation remain uncertain.” Still strong business activity shows why the Reserve Bank of Australia last week raised interest rates to 3-year high. 10 %, as traders looked forward to an extension to the pause and warned that further policy tightening may be needed. Markets still favor a pause in rate hikes in June, although they have already priced in a slim chance of another rate hike in August. The sales metric for the survey dropped 4 percentage points and is still very high + In April, the employment index rebounded by 1 points to + and profitability decreased by 2 percentage points to + . Leading indicators weakened, with forward orders down 2 points to +1. Cost growth remains a challenge, with labor cost indicators holding steady at 1.9% quarter-on-quarter growth and procurement costs recovering to 2.3% from 1.9% in March. 100 Share FacebookTwitterPinterestWhatsApp Previous articleMost Memorable MTV Movie & TV Awards Moments: Tom Cruise Acceptance Speech, Drew Barrymore Tapes SegmentNext articleWhy Raeliana ended up in the Duke's mansion giveaway inewhttps://inew.news RELATED ARTICLES Economy Airlines say prepared to avoid repeat of summer travel chaos June 4, 2023 Economy Airline body urges jet makers to address plane delivery delays June 4, 2023 Economy Türkiye's economy will return to 'rational fundamentals', says new finance minister June 4, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. USA Trends Messi-mad Indian mom driving to Qatar to see hero in his final World Cup December 7, 2022 Drew Brees fakes lightning strike in promotional stunt for online sportsbook December 3, 2022 Who could be speaker, if not Kevin McCarthy December 3, 2022 3 bold Utah football predictions for Pac-12 Championship vs. USC December 3, 2022 Load more LAST NEWS Zero+ Maria Cornejo Resort 2024 June 4, 2023 Best Fashion Instagrams of the Week: Lily-Rose Depp, Taylor Russell and Tina Lawson June 4, 2023 Emily Ratajkowski's latest look embodies Carrie Bradshaw's glamor June 4, 2023 Airlines say prepared to avoid repeat of summer travel chaos June 4, 2023 Load more Featured NEWS SAG Awards: Winners list (live in updates) February 26, 2023 Experts warn AI assistants are harming children's social development October 5, 2022 How doctors weigh the legal risks of abortion care August 29, 2022 Jayson Tatum sets record in Celtics' Game 7 vs. 76ers | Undisputed May 16, 2023 Load more
