Businesses not sure about future
Business confidence fell again in April and is now at its lowest level since 2001. The monthly NAB survey recorded a 4 point fall and the index is now at minus eight points. The survey’s index of profits lost four points, the measure of trading conditions was down 2 points, and the index of forward orders fell 5 points to a seven year low of minus five points. The survey also showed wage pressures increasing with the annual growth rate to April now at 5.2 per cent while purchase costs are 4.4 per cent higher than a year ago.
Source: The Australian