SYDNEY (Reuters) -A measure of Australian business conditions picked up in October as firms reported better sales and profits, while gauges of costs and prices eased back further and looked to be well-behaved.
The survey from National Australia Bank showed its index of business conditions rose one point to +9 in October, the highest level since March 2024. A business confidence index fell one point to +6, still above the long-run average.
“Overall, the positive trend in business conditions suggests the economy has held onto the momentum gained since late 2024,” said NAB Chief Economist Sally Auld.
“Economic growth has improved but we are starting at a point with little slack in the economy. Capacity utilisation is still high and wage and margin pressures continue to be significant factors impacting business confidence.”
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(Reporting by Stella Qiu; Editing by Sonali Paul)
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