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Business confidence falls sharply, NAB survey finds

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  Business confidence has fallen sharply, National Australia Bank's monthly survey finds. Inflation continues to grind down on future work pencilled in for the mining and retail sectors, wiping out a general boost to business confidence in October.


The article from news.com.au discusses a significant drop in business confidence in Australia, as revealed by the National Australia Bank's (NAB) latest quarterly survey. The survey indicates that business conditions have deteriorated, with confidence levels falling to their lowest since the 2020 lockdowns, driven by concerns over rising interest rates, persistent inflation, and global economic uncertainties. Key sectors like retail, manufacturing, and construction reported declines in trading conditions, profitability, and employment. Despite these challenges, there are some positive notes with forward orders and capacity utilization showing slight improvements. The survey also highlighted a cautious approach among businesses, with many holding off on investments due to the economic climate, although there's an expectation that conditions might stabilize as inflation eases and interest rates potentially peak.

Read the Full Couriermail Article at:
[ https://www.news.com.au/finance/business/business-confidence-falls-sharply-nab-survey-finds/news-story/48455779898c70fcb79e9c0bd02281df ]