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Australian businesses stagnate in May due to low consumer spending and rising costs, survey shows.
Australian businesses faced stagnation in May due to low consumer spending and rising costs, according to the National Australia Bank's survey.
The business conditions index dropped to zero, below the long-term average of +6, while confidence slightly improved.
Retail and sales showed significant weakness, and the employment index fell to zero.
Despite these challenges, unemployment remains near 4.1%.
The report suggests a cautious outlook for businesses, especially in consumer-facing sectors.
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Las empresas australianas se estancan en mayo debido al bajo gasto del consumidor y al aumento de los costos, según muestra la encuesta.