SYDNEY, Feb 14 (Reuters) – Australian business conditions rebounded sharply in January after three months of slowdown while cost pressures picked up again, a surprising sign of strength that could add to the case for yet more rises in interest rates. Tuesday’s survey from National Australia Bank Ltd (NAB) (NAB.AX) showed its index of business conditions had risen 5 points to +18 in January, well above its long-run average. The measure of confidence climbed 6 points to +6, led by gains in the wholesale and the transport and utilities industries. "The improvement in confidence suggest firms have a more optimistic outlook as concerns about global growth prospects ease, while strong conditions are also providing evidence that the economy is more resilient than previously expected," said Alan Oster, NAB’s chief economist. The survey showed a notable 8-point pick-up in its sales index to a very high +28 in January, supported by historically low unemployment and rapid population growth. Latest Updates Measures of employment edged up 2 points to +10, while profitability rose 4 points to +17. The resilience of demand was one reason the Reserve Bank of Australia (RBA) lifted interest rates to a decade high of 3.35% last week […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
