Australia NAB Business Conditions Rise Slightly

(RTTNews) - Australia business conditions rose slightly in March, while confidence remained negative suggesting that firms remained cautious about the outlook, survey data from NAB showed on Monday.

The business confidence index fell to -3 in March from -2 in February. Meanwhile, the business conditions index rose to 4 from 3 in the previous month.

An uptick in profitability was mostly offset by slightly lower trading conditions and employment.

Forward orders and capex both rose by 1 point each. Capacity utilization advanced to 82.9 percent from 82.0 percent. This was the highest monthly rate since September 2024.

By industry, conditions improved in all industries except construction, retail and recreation and personal services.

Purchase cost growth was steady at 1.4 percent, while labor cost growth eased to 1.5 percent. Product price growth was unchanged but retail price growth softened.

The survey was conducted prior to the shift in US trade policy early this month, and as such, results do not reflect firms' perceptions of the outlook post tariff announcements.