The NAB Monthly Business Survey for February is out and it shows a big boost to confidence in the month following the floods:
However business conditions largely went the wrong way outside mining and remain weak across the services economy:
One ray of light was prices paid, which continues to show moderating inflationary forces. Retail is low, producer prices were up slightly but at a moderating pace and wage pressures are abating steadily.
No rate rise here (full report below).
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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