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18 Apr 2013
Forex Flash: Australia activity will soften into the June quarter – NAB
Today's Business confidence data “improved significantly in the March quarter – the first quarterly rise in sentiment since December 2011,” said Economist at the NAB Alexandra Knight.
“That said, business conditions are still clearly signaling below trend growth,” the economist expands, adding: “Indeed, the NAB quarterly business survey points to domestic demand growth in March quarter 2013 of around 2¼%. More worrying forward indicators of demand remain subdued – notably forward orders, stocks and capital expenditure – suggesting activity will soften into the June quarter,” she noted. “There are indeed signs of that happening in the March Monthly Business Survey,” Alexandra concludes.
“That said, business conditions are still clearly signaling below trend growth,” the economist expands, adding: “Indeed, the NAB quarterly business survey points to domestic demand growth in March quarter 2013 of around 2¼%. More worrying forward indicators of demand remain subdued – notably forward orders, stocks and capital expenditure – suggesting activity will soften into the June quarter,” she noted. “There are indeed signs of that happening in the March Monthly Business Survey,” Alexandra concludes.