Diamond Member Pelican Press 0 Posted July 9, 2024 Diamond Member Share Posted July 9, 2024 This is the hidden content, please Sign In or Sign Up Australia business conditions worsen in June, job This is the hidden content, please Sign In or Sign Up dims, survey shows SYDNEY (Reuters) – *********** business conditions worsened in June with the This is the hidden content, please Sign In or Sign Up for employment taking a notable hit, a survey showed on Tuesday, though firms were a little more confident as cost pressures eased. The survey from the National Australia Bank (NAB) showed its index of business conditions fell 2 points to +4, falling below its long-run average. In contrast, the index of business confidence bounced 6 points to +4 with gains reported in manufacturing and wholesale. Within the conditions measure, the index of employment dropped 6 points to stand at 0, while sales were broadly flat. “While its only one month’s read, the employment index is now below its long-run average and may be signalling that the broader slowing in the economy is flowing through more strongly to labour demand,” said Gareth Spence, head of *********** economics at NAB. The survey found a welcome cooling in price pressures, with labour costs and purchase costs slowing. Inflation in product prices eased to a quarterly rate of just 0.7%, while retail prices held at 1.5%. “Price pressures continue to ease in a trend sense though the data certainly ******** bumpy,” said Spence. The Reserve Bank of Australia (RBA) left interest rates unchanged at 4.35% for a fifth straight meeting last month but warned it was vigilant to upside inflation risks that could require further tightening. (Reporting by Wayne Cole; Editing by Christopher Cushing) This is the hidden content, please Sign In or Sign Up #Australia #business #conditions #worsen #June #job # This is the hidden content, please Sign In or Sign Up #dims #survey #shows This is the hidden content, please Sign In or Sign Up This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/61011-australia-business-conditions-worsen-in-june-job-outlook-dims-survey-shows/ Share on other sites More sharing options...
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