In July, Australian business conditions improved, with employment rebounding and cost pressures easing.

In July, Australian business conditions improved as shown by a National Australia Bank (NAB) survey, with employment rebounding and cost pressures easing. The NAB business conditions index increased 2 points to +6, while the business confidence index slipped 2 points to +1. Employment index rose from 0 to +7, and cost pressures cooled, with growth in purchase costs and product prices slowing. The Reserve Bank of Australia held interest rates steady at 4.35% in August, considering the current rate sufficient to control inflation without hindering employment gains.

August 13, 2024
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