NAB business survey to the moon!

Tuesday 13 February 2018

To the moon:

• How confident are businesses? The business confidence index increased 2pts to +12 index points, the highest level since April 2017. This may reflect improved global economic conditions, and is an encouraging signal for investment. However, the survey was conducted prior to the recent turbulence in international financial markets.

• How did business conditions change this month? The business conditions index jumped by +6pts to a strong +19 index points, well above the long-run average of +5 index points. The business conditions index has been relatively volatile in recent months, with changes in seasonal patterns playing a part, however on a trend basis conditions remain elevated.

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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.