spacer
spacer
 eWombat Search

Subscribe to our newsletter

* indicates required
spacer
   Get ASX price
spacer
  Accounting Services Home   Financial Planning Home   Lending Services Home
  Latest Accounting News
Business confidence hits 5-month high: NAB
Caution advised on best interests duty with cryptocurrencies
$20,000 asset write-off renewed for another financial year.
SMSF compliance traps with bitcoin
Where Australia is at. Our leading indicators.
Foreign resident CGT withholding: early recognition of tax credit
ATO set to doorknock as 60% of cash-heavy businesses caught
New downsizing cap available
Capital Gains and Renounceable Rights
Treasury finds Australia 'increasingly uncompetitive' as US moves on tax plans
Australia's vital statistics
Our Advent calendar for 2017
SMSFs warned on ‘ticking time bomb’ with outdated deeds
Taxation ruling on commercial website deductibility
68% of SMEs ‘significantly stressed,’ 85% rely on accountants
Statutory wills are underutilised in estate planning
Small business slips on lodgement deadlines
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Business confidence hits 5-month high: NAB

NAB’s business confidence index jumped four points in December as business confidence and business conditions begin to converge.



         


 


According to the latest results of NAB’s monthly business survey, business confidence has “almost” caught up to business conditions.


The business confidence index rose four points to 11 index points in the December 2017, the highest level since July 2017 – while the business conditions index remained unchanged at 13 points.


“This has helped to narrow the perplexing gap between business conditions and confidence evident over the past couple of years, and is an encouraging signal for investment,” NAB group chief economist Alan Oster said in a statement. 



Source: NAB
 


The higher reading in business confidence was “perhaps driven by a stronger global economic backdrop”, as well as strong conditions across all industries bar retail.


“The construction industry is performing well, thanks to support from a large pipeline of residential construction and stronger non-residential building approvals,” Mr Oster said.


“Mining has also gone from being a major drag on the index to experiencing above average business conditions.


“The retail sector meanwhile continues to struggle with slightly negative business conditions, indicating a modest rate of contraction in the industry.”


Retail stood as the only industry that was a “consistent underperformer” and reporting negative business conditions.


Mr Oster also pointed out that employment growth figures were overstated and falling from its “current extraordinary heights”.


“Official employment figures show extraordinary employment growth of over 400,000 over the year to December,” he said.


“The NAB Business Survey employment index on the other hand has not experienced the same wild swings in recent years, and tends to suggest the official figures may be currently ‘overstating’ the degree of job creation.


“The employment index implies employment growth of a little less than 300,000 at present, and a slowdown to around 240,000 per annum over the next six months, or a monthly pace of around 20,000 per month.”


 


BY JESSICA YUN
Source:  NAB
Wednesday, 31 January 2018
www.investordaily.com.au


 




24th-February-2018
Site by PlannerWeb

227 Hutt Street, Adelaide SA 5000 | PHONE:(08) 8272 6833 | FAX:(08) 8227 2608

GWM Adviser Services Limited is only responsible for advice provided by EFC Financial Services Pty Ltd under the terms of Authorisation (Authorised Representative) of the Licensee.

  I have read & agree to the terms described above