2010.10.1122:00:00UTC+00Australia Business Confidence slips to 10 But Business Conditions Improves to 7, in September - Nab

News:

• National Australia Bank's (NAB) monthly survey of more than 530 firms reported the measure of business confidence, easing from its three-month highs as it slipped to 10 in September, down from 11 in August, but still topping its long-term average of 7.
• The measure of business conditions strengthened to 7 in September from 5 in August, and employment index dipped 1 point to 2010's lowest reading at 2, while its index of profits jumped 2 points to 6, and the index of sales climbed to 13 from 5 in August.
• NAB's survey recorded the measure of forward orders racing up 9 points to stand at 3 in September, while the outlook for exports worsened, as the index tumbled 4 points to -4, after climbing 13 points in August.
• The survey found business confidence improving in construction, but deteriorating in mining, wholesale, recreation, transport and utilities, while business conditions in mining, construction, finance and retail improved, but worsened in wholesale and recreation.
• NAB stated that mining and transport were faring the best among industries, backed by rapid urbanisation in China and India, while retail, manufacturing and construction stood among the worst performing sectors.