Australia Macro Updates

The One Stop Portal for Australia Macroeconomic Data. Simplified and Summarized!

We simplify and summarize key data so that you don’t have to spend hours reading confusing and long media releases. Read key economic releases and major events here in under 2 minutes. And we will explain the key takeaway for you. Stay informed and form a robust view on macroeconomic matters to aid your successful investment decisions

13th May 2024

NAB Business Confidence Index

Key takeaway: Business conditions further declined in April. The Index on Business Conditions fell from 9 in March to 7 in April. However, overall business confidence was unchanged with the Index staying at 1. The overall business confidence remained weak compared to historical trends. Firms continue to remain concerned about the future even though the current economy is seen as resilient. The new orders index fell from -1 to -7. The fall in forward orders was driven by mining, manufacturing and construction. Retail and wholesale forward orders were also negative, adding to the pessimistic outlook. Inflation continues to remain a challenge for the Australian economy. The latest survey data though showed that labour costs eased from 1.7% to 1.5% in quarterly equivalent terms and purchase cost growth also slowed from 1.5% to 1.2%. Employment declined as well.

  • The Business Confidence Index was unchanged at 1.0 in Apr (Mar : +1.0)
  • The Business Conditions Index decreased to 7.0 in April (Mar : +9.0)

8th Apr 2024

Key takeaway: Business conditions marginally declined in March. The Index on Business Conditions fell from 10 in February to 9 in March. However, overall business confidence rose slightly from 0 to 1. On the balance though, business confidence remained weak compared to historical trends. Firms continue to remain concerned about the future even though the current economy is seen as resilient. The new orders index gained from -3 to -1. Inflation continues to remain a challenge for the Australian economy. The latest survey data though showed that labour costs eased from 2.0% to 1.6% in quarterly equivalent terms and purchase cost growth also slowed from 1.8% to 1.4%.

  • The Index increased from 0.0 in Feb to 1.0 in Mar

11th Mar 2024

Key takeaway: Business conditions generally rose in February. The Index on Business Conditions moved up from 7 to 10. However, overall business confidence remained low with the headline index moving from 1 to 0 in February and the new orders index moving down from -2 to -3. Inflation continues to remain a challenge for the Australian economy with labour costs and purchase costs still high at 2.0% quarterly rate.

  • The Index decreased from 1.0 in January to 0.0 in February

 

Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism.

The Conference Board