Australian business activity rebounds in June: survey
National Australia Bank's survey showed its index of business conditions climbed to +9 in June, from zero in May, topping the long average of around +6. Its confidence index also increased 3 points to +5, for the third month of gains.
'While we wouldn't overplay monthly moves, the uptick in trend conditions is welcome given the softening trend through early 2025,' said NAB's chief economist, Sally Auld.
'An improvement in confidence is also welcome, given the raft of negative headlines globally over recent months.'
The survey's measure of business sales jumped 10 points to +15, while profitability rose 9 points to +4 and employment gained 2 points to +3. By sector, manufacturing and retail saw the largest increases following large falls in May.
The improvement in retail is welcome as consumer demand has struggled all year despite two cuts in interest rates and a slowdown in inflation.
The Reserve Bank of Australia meets on Tuesday and is widely expected to again cut rates by a quarter point, to 3.60 per cent.
Markets are wagering on further easing to 3.10 per cent or lower, since core inflation has dropped to the middle of the RBA's target band of 2 per cent to 3 per cent.
NAB's survey showed growth in retail prices had slowed to a quarterly pace of 0.6 per cent in June, the lowest since early 2023, even as purchase costs stayed up at 1.5 per cent, pointing to some pressure on margins. REUTERS
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Paper
13 hours ago
- New Paper
Australia's cult froyo brand Yo-Chi makes Singapore debut at Orchard Central
Calling all frozen yogurt lovers. Australia's famed self-serve yogurt and acai brand Yo-Chi has launched its first overseas outlet at Orchard Central on Aug 15. Founded in Melbourne in 2012, Yo-Chi has grown a cult following with its strong social media game and hip branding, particularly among the Gen Z and Gen Alpha demographic. As in Australia, the 60-seat cafe here - complete with a disco ball and pumping pop hits - operates as a self-serve, pay-by-weight concept. To start, pick a cup or cone and swirl your own frozen yogurt flavour, including its Original Tart, Chocolate, Matcha and Mango, all made in-store with Australian milk. Then add an array of toppings. Options include chocolate chip cookie dough, mini mochi, chocolate brownie cake and fresh fruits, plus the Singapore-exclusive coconut jelly and nata de coco. Finish with white or dark chocolate sauce, or warm Nutella. For that final local touch, add a cracker that says Yo-Chi Is So Shiok. Finally, weigh your order at the counter for payment. Prices start at $3.50 for 100g. Ahead of the store's opening on Aug 15 at 11am, a queue of about 200 people had already formed. First in line was a 16-year-old student who wanted to be known only as Miss Rui. She had been waiting since 3.15am. "I like frozen yogurt and knew of Yo-Chi from TikTok," she says, nodding in approval after taking her first bites of the dessert. This was her first taste of Yo-Chi and her order comprised the chocolate and original yogurt flavours, along with toppings of brownie, mochi and nata de coco. Her treat was priced at $4.25 after a 20 per cent discount from downloading the Yo-Chi app, for this weekend only. She also received one of 50 goodie bags for the first 50 in line. The brand's entry into Singapore is a joint venture with the Allis family who own the chain in Australia; Ms Amy Bell, the Australian co-owner of Yo-Chi Singapore; and her Singaporean business partner. Ms Bell, 40, has been living in Singapore for the past 13 years with her family, and is also the founder of online grocer platform The Meat Club. She previously ran another soft-serve brand called Cocowhip, from 2015 to 2019. Ms Bell was introduced to Ms Janine Allis, founder of famed Australian smoothie brand Boost Juice, by a mutual friend when they were out surfing at Byron Bay seven months ago. Discussions followed, leading to Yo-Chi's debut here. Ms Bell is scouting for locations to expand here and will venture into the South-east Asian region "once the Singapore experience is perfected". Yo-Chi is still expanding in Australia. Currently at 56 outlets, it is set to go beyond 60 by the end of 2025. Yo-Chi's opening here follows the arrival of another notable dessert brand from Australia: Gelato Messina, which has been drawing queues since opening at Club Street in May. Yo-Chi's co-owner and brand director Oliver Allis, who is Ms Allis' son, says: "Our goal is to do things differently and be a beaming light of positivity and authenticity in today's dreary world. "Whether you are taking your grandparents out for a walk, going on a first date or just chilling with your friends, Yo-Chi aims to be a space where people from all walks of life feel welcome." Yo-Chi at 01-06 Orchard Central, 181 Orchard Road, and opens from 10am to 10pm (Mondays to Thursdays), 10am to 11.30pm (Fridays to Sundays). For more information, go to
AsiaOne
17 hours ago
- AsiaOne
From froyo to acai: Australian dessert chain Yo-Chi launches first international outlet in Singapore, Lifestyle News
Fans of Yo-Chi will be pleased to know that they won't need to take a trip down under when craving its signature self-serve frozen yoghurt or acai. The popular Australian dessert chain has launched its first international outlet today (Aug 15) at Singapore's Orchard Central, it shared in a press release. Customers can expect to personalise their yoghurt cups and acai bowls at the self-serve stations before picking a selection of toppings. Classic garnishes include chocolate chip cookie dough, fresh strawberries and mini mochi. If you're looking for more familiar flavours, toppings with a localised twist include coconut jelly and nata de coco. Yo-Chi noted that its yoghurts are made with real Australia milk, with dairy-free and gluten-free options also available. The brand also said the majority of its flavours are 98 per cent fat-free. Flavours available all-year round include Salted Butterscotch, Signature Tart and Classic Vanilla. Seasonal options to look out for are Cookies and Cream, Coconut, Matcha and Mango. Launched in Melbourne in 2012, Yo-Chi is one of Australia's most popular frozen yoghurt and acai brand with 56 outlets currently. Yo-Chi mentioned that it has "big plans for more". For froyo and acai lovers, let's hope this launch at Orchard Central is just the beginning of Yo-Chi's growth in Singapore. Address: 181 Orchard Rd, #01-06 Orchard Central Singapore 238896 [[nid:721276]] amierul@
Straits Times
19 hours ago
- Straits Times
Australia's famed self-serve yogurt brand Yo-Chi opens first international outlet at Orchard Central
Sign up now: Get ST's newsletters delivered to your inbox Founded in Melbourne in 2012, Yo-Chi has grown a cult following for its strong social media game and hip branding. SINGAPORE – Calling all frozen yogurt lovers. Australia's famed self-serve yogurt and acai brand Yo-Chi has launched its first overseas outlet at Orchard Central on Aug 15. Founded in Melbourne in 2012, Yo-Chi has grown a cult following with its strong social media game and hip branding, particularly among the Gen Z and Gen Alpha demographic. As in Australia, the 60-seat cafe here – complete with a disco ball and pumping pop hits – operates as a self-serve, pay-by-weight concept. To start, pick a cup or cone and swirl your own frozen yogurt flavour, including its Original Tart, Chocolate, Matcha and Mango, all made in-store with Australian milk. Then add an array of toppings. Options include chocolate chip cookie dough, mini mochi, chocolate brownie cake and fresh fruits, plus the Singapore-exclusive coconut jelly and nata de coco. Finish with white or dark chocolate sauce, or warm Nutella. For that final local touch, add a cracker that says Yo-Chi Is So Shiok. Finally, weigh your order at the counter for payment. Prices start at $3.50 for 100g. Top stories Swipe. Select. Stay informed. Singapore Ong Beng Seng fined $30k for abetting former minister Iswaran in obstructing course of justice Life How do household bomb shelters in Singapore really work? Singapore Sengkang-Punggol LRT line resumes full service 4 hours after power fault halts trains Asia Johor authorities seize four Singapore-registered vehicles over illegal e-hailing Singapore Owners call for stronger management rules in ageing condos, but seek to avoid being overburdened Asia Japan's PM Ishiba mentions wartime 'regret', toeing right-wing line Ahead of the store's opening on Aug 15 at 11am, a queue of about 200 people had already formed. First in line was a 16-year-old student who wanted to be known only as Miss Rui. She had been waiting since 3.15am. 'I like frozen yogurt and knew of Yo-Chi from TikTok,' she says, nodding in approval after taking her first bites of the dessert. This was her first taste of Yo-Chi and her order comprised the chocolate and original yogurt flavours, along with toppings of brownie, mochi and nata de coco. Her treat was priced at $4.25 after a 20 per cent discount from downloading the Yo-Chi app, for this weekend only. She also received one of 50 goodie bags for the first 50 in line. The brand's entry into Singapore is a joint venture with the Allis family who own the chain in Australia; Ms Amy Bell, the Australian co-owner of Yo-Chi Singapore; and her Singaporean business partner. Ms Bell, 40, has been living in Singapore for the past 13 years with her family, and is also the founder of online grocer platform The Meat Club. She previously ran another soft-serve brand called Cocowhip, from 2015 to 2019. Ms Bell was introduced to Ms Janine Allis, founder of famed Australian smoothie brand Boost Juice, by a mutual friend when they were out surfing at Byron Bay seven months ago. Discussions followed, leading to Yo-Chi's debut here. Ms Bell is scouting for locations to expand here and will venture into the South-east Asian region 'once the Singapore experience is perfected'. Yo-Chi is still expanding in Australia. Currently at 56 outlets, it is set to go beyond 60 by the end of 2025. Yo-Chi's opening here follows the arrival of another notable dessert brand from Australia: Gelato Messina, which has been drawing queues since opening at Club Street in May. Yo-Chi's co-owner and brand director Oliver Allis, who is Ms Allis' son, says: 'Our goal is to do things differently and be a beaming light of positivity and authenticity in today's dreary world. 'Whether you are taking your grandparents out for a walk, going on a first date or just chilling with your friends, Yo-Chi aims to be a space where people from all walks of life feel welcome.' Yo-Chi at 01-06 Orchard Central, 181 Orchard Road, and opens from 10am to 10pm (Mondays to Thursdays), 10am to 11.30pm (Fridays to Sundays). For more information, go to .
