Nov 15, 2012

Business confidence takes a punch to the face

The latest NAB business confidence survey shows business conditions have fallen to their weakest level in three years, driven down by declines in employment, profitability and trading conditions.

After deciding to keep interest rates on hold earlier this month, Reserve Bank governor Glenn Stevens made a point of saying that his board was looking hard at what comes after the mining boom, which is expected to peak next year, sooner and at a lower level than was expected.

“As this peak approaches, the board will be monitoring the strength of other components of demand,” Stevens said on November 6.

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One thought on “Business confidence takes a punch to the face

  1. Puff, the Magic Dragon.

    Thanks Tony Abbott. It looks like you have finally wrecked the joint.

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