Reported about 1 month ago
Australian business conditions have dropped to their lowest level in 2.5 years as reported by the National Australia Bank. The business conditions index decreased by 3 points to +3 in August, falling below its long-term average, with the employment index significantly dropping from +7 to +1. This decline indicates a potential end to the strong post-COVID labor demand, compounded by persistent inflation challenges that have led the Reserve Bank of Australia to maintain interest rates. The report highlights a mixed picture regarding inflation, with some costs easing while others remain high.
Source: YAHOO