x
Visit our new Mobile Website next time you access NetDania with your mobile device
Netdania News
Australia’s business conditions deteriorate further below long-run average in July, no sign of broader economy in near-term

Source FxWire Pro Tuesday, 13 Aug, 2019 07:02:01 GMT
Back

Australia’s business conditions deteriorated further below their long-run average in July. Although confidence improved slightly, it also remains below average. The jump in capacity utilisation and the employment index in June were reversed in July; these indicators are again consistent with the profitability index in pointing to slower employment growth and a higher unemployment rate (to be released Thursday), according to the latest report from ANZ Research.

Business conditions weakened slightly to 2.4 in July from 3.6 in June. After reaching a seven-month high in June, capacity utilisation fell back down to 80.9 percent, and the employment index fell below zero for the second time in four months.

Although there was some improvement in profitability and forward orders, they remain very weak, while trading and exports were also down. Labour cost growth moderated, but growth in purchase costs accelerated.

Business conditions deteriorated in all states aside from Western Australia, where conditions rose by 11.6 points to an 11-month high. Tasmania saw the largest monthly fall (-24.0 points) to its lowest level in six years.

Smaller declines were recorded in Victoria (-2.6 points), New South Wales (-1.7), Queensland (-1.5) and South Australia (-1.1). Average conditions in all states over the past three months are now below their long-run average.

Business conditions in construction collapsed in July, down 19.0 points from the eight-month high in June. Despite the prospect of tax cuts boosting household spending in H2 2019, retail conditions fell 10.6 points to a historical low of -31.9.

Falls in wholesale (-7.8), recreation (-1.5) and manufacturing (-0.6) also contributed to the deterioration in overall conditions. This was partially offset by improvements in mining (+12.3 points), transport (+11.6) and finance (+8.3).

"Labour cost growth also moderated and we could see softer wage growth in Q2 (to be released Wednesday). No sign of a pick-up in the labour market or broader economy in the near-term," the report further commented.

Source: FxWire Pro - Commentary
© FxWire Pro 2019. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.
Find a Top Broker
Global
Forex
26130.51
222.06
0.86%
2920.24
29.22
1.01%
7705.65
102.65
1.35%
10704.54
397.76
3.86%
11697.01
137.36
1.19%
20644.50
60
0.29%
2883.10
59.28
2.10%
7187.85
63.05
0.88%
26237.00
565
2.20%
6480.70
35.6
0.55%
11053.90
6.1
0.06%
1502.47
-9.02
-0.60%
59.23
0.7
1.20%
1.10995
0.00102
0.09%
106.512
0.198
0.19%
1.21285
-0.00143
-0.12%
0.67775
0.00027
0.04%
1.32843
0.00261
0.20%
118.22500
0.457
0.39%
0.91514
0.00311
0.34%
129.18200
0.043
0.03%
0.98032
0.003
0.31%
1.08812
0.00365
0.34%
0.64222
0.00047
0.07%
98.21800
0.076
0.08%
Top Gainers
Name
Last
+/-
%
1.31
0.40
44.21%
1.03
0.29
39.70%
5.17
1.34
34.99%
2.61
0.52
24.88%
3.12
0.61
24.26%
1.14
0.19
19.50%
5.48
0.87
18.87%
3.38
0.45
15.36%
2.08
0.31
17.51%
22.40
3.31
17.34%
Top Losers
Name
Last
+/-
%
0.00
0.00
-57.63%
1.77
-0.68
-27.75%
11.06
-3.38
-23.38%
0.90
-0.15
-14.20%
4.07
-0.67
-14.14%
1.51
-0.24
-13.71%
0.12
-0.02
-13.03%
15.50
-2.24
-12.63%
8.93
-1.27
-12.43%
1.06
-0.14
-11.67%
NetDania does not guarantee the accuracy of data contained on this website, nor do we guarantee that data is real-time. Data on this website may be provided from OTC market sources and market makers, and not necessarily from exchanges. The provided price data is indicative and may not be appropriate for trading or decision making purposes. NetDania does not assume any responsibility for any losses incurred from the use of the provided data.
NetDania does not endorse or promote any broker or financial service. NetDania is a pure technology provider offering its software with broker integration. Any user of NetDania software must be an existing client of one of our supported brokers. NetDania showcases NetDania technology for the purpose of demonstrating it towards brokers and other institutions looking to white label the technology on a software subscription contract. No financial services are offered, promoted or recommended. NetDania is compensated as a technology provider by its institutional clients including its integrated brokers. It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation affecting it.

Persons or entities including approved brokers not belonging to the NetDania Group may advertise on the NetDania and its Group’s websites, through links, banners or otherwise. We have not taken any steps to verify the accuracy, quality or reliability of any products, information or services provided by third parties that have links on our website. We accordingly provide no warranties with regard to and disclaim responsibility for any such products, information or services and exclude all liability in this regard to the fullest extent permitted by relevant laws and regulations. If a user of the NetDania Group’s websites decides to act upon any such advertising, such user does so entirely at its own risk.

NetDania’s website may be accessed worldwide. The Information provided on its website is however only intended for use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. None of the offerings services referred to on this website are available to recipients residing in countries where the provision of such offerings would constitute a violation of mandatory applicable legislation or regulations. It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation.

HIGH RISK INVESTMENT WARNING:
End-users of the NetDania software that make use of the trading integration features as direct clients of integrated brokers, should be aware of the level of risk carried by trading in financial markets. Trading foreign exchange and or other financial instruments on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or more of your initial investment, and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from your broker and or an independent financial advisor if you have any doubts. Anyone opening a live trading account needs to adhere to the laws of their local country as such laws may differ from country to country.
NetDania expressly disclaims any liability for any lost principal or profits which without limitation may arise directly or indirectly from the use of or reliance on information on our website or the use of our software with broker integration.
Copyright © 1998 -2019 NetDania Creations ApS, Kronprinsessegade 36, 1st floor DK-1306 Copenhagen K, Denmark, +4536980409, Contact NetDania by email, CVR-nr.27976670 Terms And Conditions and Privacy Policy