Australia NAB Business Conditions rose to 14 in December, up from 7. That’s the fourth consecutive month of improvement, and highest level since late 2018. Looking at some details, Employment improved notably from -4 to 9, first positive reading since the start of the coronavirus pandemic. Trading conditions rose from 15 to 20, but profitability dropped from 13 to 11.
Business Confidence dropped to 4 in December, down from 13, as confidence pulled back in New South Wales, Victoria and Queensland, partly reflecting the outbreak in Sydney through December.
