NAB survey: little rates pressure

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).

Press Release- Feb 2011

David Llewellyn-Smith
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