Dun and Bradstreet business expectations for November are out and show what tripe the RBA has been spouting. Business expectations, which we’ll take a proxy for confidence, remain very high but sadly actual conditions are only OK and fading.
Hopes for sales are near the moon but the realty is meh:
Hopes for profits are passing Saturn but the reality is meh:
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Hopes for employment are traveling through the outer Solar system but the jobs are meh:
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Hope for capex is fast returning to earth:
Hopes for inflation has shot to another galaxy while actual is somewhere out near Pluto:
That lot throws up this, all dressed up and nobody to sell to:
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Confidence does not an economy make. An economy makes confidence.