Monitor AU NAB Business Confidence to gauge future economic activities like spending and hiring.
This indicator serves as a crucial gauge of economic health, as businesses quickly adapt to market conditions. Changes in their sentiment can provide early indications of upcoming economic activities, including consumer spending, hiring, and investment. A reading above 0 reflects improving conditions, while a reading below indicates deterioration. There are both monthly and quarterly surveys available; the monthly survey is more timely and impactful, whereas the quarterly version benefits from a larger sample size and additional questions regarding future expectations.
What it Measures
The index level is derived from responses of surveyed businesses, excluding those in the agricultural sector.
Usual Effect
When the 'Actual' figure exceeds the 'Forecast', it typically signals positive outcomes for the currency.
Source & Frequency
National Australia Bank Limited (latest release) - https://www.nab.com.au/ • The release occurs monthly, approximately 10 days following the end of the month.
How Data is Derived
Survey of about 350 businesses which asks respondents to rate the relative level of current business conditions
Also Known As
N/A
Acronym
National Australia Bank (NAB)