Australia Business confidence is still quite mantab despite continued volatile market lately. Monthly Business Survey (NAB) showed a slight deterioration in business confidence Australia, from +5 in November to +3 in December 2015. Business conditions also still terkatrol although there are slight decline, from +10 points to +7 points.
"While oil prices are still in a great slump and equity markets still highlights the potential risks to the global outlook, business conditions are still relatively positive so far and still act to convince business sentiment." said Alan Oster, NAB Chief Economist quoted by ABC.
The bank noted that low interest rates and a depreciating Australian dollar has helped catapulted the service sector. Meanwhile, the retail sector and construction experienced a sizeable contraction in business conditions.
"The collapse of mining investment is still an impact on the field of construction, but we are also witnessing the loss of momentum-momentum in the construction industry in line with the Australian residential property market began to cool," said Oster.
NAB: Aussie will depreciate in the month of June 2016
The bank said business conditions still show a recovery in the non-mining sector, and is expected Reserve Bank of Australia (RBA) will still pay attention to how policies are currently working, before taking action lanut in the future. However, NAB's own forecast that the global outlook is still weaker and it cut its forecast global outlook to 3 percent in the 2016's.
The Australian dollar showed a slight increase 12:02 percent against the US dollar on Monday (25/01) morning today towards the 0.7014 figure. NAB predicts that the Australian dollar will drop to 0.66 per US dollar figures in June this year.
"While oil prices are still in a great slump and equity markets still highlights the potential risks to the global outlook, business conditions are still relatively positive so far and still act to convince business sentiment." said Alan Oster, NAB Chief Economist quoted by ABC.
The bank noted that low interest rates and a depreciating Australian dollar has helped catapulted the service sector. Meanwhile, the retail sector and construction experienced a sizeable contraction in business conditions.
"The collapse of mining investment is still an impact on the field of construction, but we are also witnessing the loss of momentum-momentum in the construction industry in line with the Australian residential property market began to cool," said Oster.
NAB: Aussie will depreciate in the month of June 2016
The bank said business conditions still show a recovery in the non-mining sector, and is expected Reserve Bank of Australia (RBA) will still pay attention to how policies are currently working, before taking action lanut in the future. However, NAB's own forecast that the global outlook is still weaker and it cut its forecast global outlook to 3 percent in the 2016's.
The Australian dollar showed a slight increase 12:02 percent against the US dollar on Monday (25/01) morning today towards the 0.7014 figure. NAB predicts that the Australian dollar will drop to 0.66 per US dollar figures in June this year.
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