Emigrate to Australia: business confidence solid
23 October 2016 by News DeskEmigrate to Australia where employment conditions have also improved in the past three months.
Emigrate to Australia where business conditions remain above the long-run average and employers report difficulty in recruiting skilled workers.
Business confidence is also solid and service sectors and construction continue to outperform, according to the NAB Quarterly Business Survey
Leading indicators were once again encouraging and remain consistent with NAB’s expectation for activity in the non-mining economy to be solid in the near-term.
Forward orders are still positive, and improved slightly in the quarter, while expectations for business conditions in 3 and 12 months time were also strong, with the later rising in Q3.
Emigrate to Australia: business confidence solid
Capacity utilisation pulled back this quarter although the long-term trend is still positive – having improved noticeably from 2012.
Tighter capacity suggests a supportive environment for future investment and labour demand, and indeed, capex plans for the next 12 months are solid, while both near-term and longer-term employment intentions improved — firms are also starting to report difficulty finding suitable labour.
Most firms in the Survey (more than two thirds) indicate that they are comfortable with the current level of the Aussie dollar.
Wholesalers are showing the most discomfort reflecting a degree of import reliance (similar for retail). Similarly, manufacturing has the second highest discomfort, but this is falling, as AUD depreciation helps competitiveness.
The survey is showing that both subdued purchase and labour costs are acting to contain product price inflation – although firms are still hinting at margin compression as well.
Product price inflation continued to be very subdued in Q3, at an annualised rate of 0.4% (0.1% in the quarter), which may flag another weak CPI ahead of the November RBA rate meeting. Retail and wholesale inflation eased further as well.
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