The conditions for running a business remain healthy after the Reserve Bank of Australia’s decision to pause interest rate hikes sent consumer confidence levels soaring.
The conditions for running a business remain healthy after the Reserve Bank of Australia’s decision toBusiness conditions as measured by NAB in its monthly survey eased two points to +16 index points, which is still well above long-run averages.
The monthly health check on the state of the business community also pointed to inflation passing its peak and starting to cool off, with both labour cost growth and purchase cost growth easing over the month. The survey also revealed a three-point uptick in business sentiment to -1 index point, a more modest improvement compared to the 9.4 per cent surge in consumer confidence for the month of April.
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