Latest news with #SallyAuld
Business Times
a day ago
- Business
- Business Times
Australia business mood brightens as activity holds up
[SYDNEY] A measure of Australian business confidence rose to a three-year high in July thanks to strength in services and construction, a survey showed on Tuesday, though rising costs also put upward pressure on retail prices. The survey from National Australia Bank showed its index of business confidence climbed to +7 in July, from +5 in June, the highest reading since August 2022. Its measure of business conditions eased to a still solid +5 in July, after jumping to +7 the previous month. 'Overall, the survey points to an improvement in activity through Q2 and suggests that the worries globally have not materially influenced local hiring and investment decisions,' said NAB's chief economist, Sally Auld. 'Generally, the services sectors, both consumer facing and for businesses, are stronger while retail and wholesale remain weaker.' Confidence could have been supported by expectations for lower borrowing costs, with the Reserve Bank of Australia widely expected to cut interest rates to a two-year low of 3.60 per cent on Tuesday. The survey's measure of business sales dipped 3 points to +11 in July, after a 9-point jump in June, while profitability eased 2 points to +2. In a cautionary note for the labour market, its measure of employment fell 3 points to +1. Official data in June showed a surprise jump in unemployment to the highest since late 2021 at 4.3 per cent and sparked worries about a weakening trend. Price indicators in the survey pointed to pockets of ongoing inflationary pressures. Notably, quarterly growth in retail prices accelerated to 1.1 per cent in July, from 0.5 per cent in June, while producer prices rose at a 0.9 per cent pace. 'The survey is consistent with improving economic growth, although still highlights the challenges around cost pressures faced by many businesses,' said Auld. REUTERS
Yahoo
a day ago
- Business
- Yahoo
Australia business mood brightens as activity holds up
SYDNEY (Reuters) -A measure of Australian business confidence rose to a three-year high in July thanks to strength in services and construction, a survey showed on Tuesday, though rising costs also put upward pressure on retail prices. The survey from National Australia Bank showed its index of business confidence climbed to +7 in July, from +5 in June, the highest reading since August 2022. Its measure of business conditions eased to a still solid +5 in July, after jumping to +7 the previous month. "Overall, the survey points to an improvement in activity through Q2 and suggests that the worries globally have not materially influenced local hiring and investment decisions," said NAB's chief economist, Sally Auld. "Generally, the services sectors, both consumer facing and for businesses, are stronger while retail and wholesale remain weaker." Confidence could have been supported by expectations for lower borrowing costs, with the Reserve Bank of Australia widely expected to cut interest rates to a two-year low of 3.60% on Tuesday. [AU/INT] The survey's measure of business sales dipped 3 points to +11 in July, after a 9-point jump in June, while profitability eased 2 points to +2. In a cautionary note for the labour market, its measure of employment fell 3 points to +1. Official data in June showed a surprise jump in unemployment to the highest since late 2021 at 4.3% and sparked worries about a weakening trend. Price indicators in the survey pointed to pockets of ongoing inflationary pressures. Notably, quarterly growth in retail prices accelerated to 1.1% in July, from 0.5% in June, while producer prices rose at a 0.9% pace. "The survey is consistent with improving economic growth, although still highlights the challenges around cost pressures faced by many businesses," said Auld. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
08-07-2025
- Business
- Business Times
Australian business activity rebounds in June: survey
[SYDNEY] Australian business activity rebounded sharply in June as firms reported rising sales and profitability, a survey showed on Tuesday, offering hope demand was finally benefiting from lower borrowing costs and cooling inflation. 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
Reuters
08-07-2025
- Business
- Reuters
Australian business activity rebounds in June, survey finds
SYDNEY, July 8 (Reuters) - Australian business activity rebounded sharply in June as firms reported rising sales and profitability, a survey showed on Tuesday, offering hope demand was finally benefiting from lower borrowing costs and cooling inflation. 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%. Markets are wagering on further easing to 3.10% or lower, since core inflation has dropped to the middle of the RBA's target band of 2% to 3%. NAB's survey showed growth in retail prices had slowed to a quarterly pace of 0.6% in June, the lowest since early 2023, even as purchase costs stayed up at 1.5%, pointing to some pressure on margins.
Yahoo
08-07-2025
- Business
- Yahoo
Australian business activity rebounds in June, survey finds
SYDNEY (Reuters) -Australian business activity rebounded sharply in June as firms reported rising sales and profitability, a survey showed on Tuesday, offering hope demand was finally benefiting from lower borrowing costs and cooling inflation. 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%. Markets are wagering on further easing to 3.10% or lower, since core inflation has dropped to the middle of the RBA's target band of 2% to 3%. NAB's survey showed growth in retail prices had slowed to a quarterly pace of 0.6% in June, the lowest since early 2023, even as purchase costs stayed up at 1.5%, pointing to some pressure on margins.
