NAB business survey; Dwelling starts
- The NAB business confidence index eased from +8.1 to +6.2 in November. The business conditions index rose from +1.6 in October to +3.7 in November.
- Forward looking sub-indices remained decidedly weak despite modest improvements. Profits ticked higher from 17-month lows, trading conditions remained near nine-month lows and new orders are still
contracting. - Australian dwelling starts slumped by 13.2 per cent in the September quarter, after lifting for the previous four quarters. In the September quarter, starts rose in only three of the eight states and territories.
- In seasonally adjusted terms work started on 170,153 dwellings over the past year – the biggest annual result in almost six years.