Australia: Non-mining recovery remains on track - NAB

Research Team at NAB, notes that the Australia’s non-mining recovery remains on track according to the June quarter NAB Business Survey.

Key Quotes

“Leading indicators also suggest the outlook remains positive, although momentum has eased a little. Despite that, firms are continuing to suggest quite strong investment intentions for the next 12 months, consistent with the steady rise in capacity utilisation rates, while near-term employment intentions improved and longer-term employment intentions remained relatively solid.

Inflation measures in the Survey remained subdued, which may point to another soft CPI outcome for Q2, while inflation expectations for the next 3 months point to a continuation of this trend.”