NAB business survey - an upside surprise: Pete Wargent
Pete WargentDecember 17, 2020
NAB releases its June 2015 Business Survey which revealed some interesting results, with unemployment now expected to peak at 6.25% and other near term data strengthening.
Business conditions trending higher moving up strongly from +5 to +11, the highest level since last October and well above the long run average.
Business confidence is also back up to its post election peak, moving up nicely from +8 to +10, with the highest recording now to be found in retail (the lowest confidence, of course, is in mining):
And trading conditions booming:
The forward orders index also rose from +2 to +5.
Buffers
On the other hand, consumer confidence has been ticked a little lower lately, which has led in turn to some remarkable loan "arrears" data.
The average homeowner is now so far ahead on mortgage repayments that loans buffers are better measured in years than months.
It's amazing how often this theme is recurrent with clients I speak to.
The full NAB survey can be found here.
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.
His latest book is Four Green Houses and a Red Hotel.
Pete Wargent
Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.