Business Conditions: When it looks too good to be true..
Business Conditions: When it looks too good to be true... While not to dispute the findings, the NAB survey has a good reputation in the market, you do have to wonder whether the October data is sustainable, or indeed an aberration, given other supplementary data seen of late. Both the NAB and separate Roy Morgan business confidence readings continue to decline while the AIG Services PMI, something of a real-time gauge on activity within the Australian services sector, fell to 43.6 in October, the lowest level recorded since August 2013. This is a stark contradiction to the the NAB survey which has business conditions in services sitting at a multi-year high. (VIEW LINK)
David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...
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