Australian business confidence and conditions hit lowest since pandemic, despite economic growth.

Australian business confidence and conditions weakened in November, with confidence falling to -3 and conditions to +2, the lowest levels since the pandemic. Sales and profitability also declined. Despite strong labor market conditions, the Reserve Bank of Australia is expected to maintain its 4.35% interest rate, with the first cut anticipated in May due to lingering inflation pressures. The economy grew 0.3% in the third quarter, the slowest rate in over three decades outside the pandemic.

3 months ago
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