NAB survey says no recovery for you!

David Llewellyn-Smith

Tuesday 9 April 2013

The NAB Business Survey for March is out and shows a deteriorating economy once more:

That’s confidence flat, conditions and employment tumbling and orders still weak.

In fact, conditions hit their worst since the GFC:

Unsurprisingly therefore employment is universally soft:

There is at least a modicum of rebalancing with capacity utilisation for mining and construction crossing over and credit associated industries bottoming:

And business conditions are also improving in those sectors:

But it ain’t enough yet. Not by half.

2013m03 Press Release

About the author

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.