Australia's economic slowdown is likely to become more entrenched with business conditions and confidence falling further last month.The sharp decline in business conditions and confidence late last year continues into 2019Retail, and in particular household goods and car sales, are the weakest sectors overall
The highly-respected NAB business survey found there had been a broad-based decline in conditions, with key forward-looking indicators pointing to ongoing weakness.far weaker than expected fourth quarter GDP results"The decline in conditions was relatively broad-based in the month and continues a relatively sharp decline over the previous six months," NAB chief economist Alan Oster said.
The weakness is broad-based across retail sub-industries, but weakest in car retailing and household goods. Jobs remained the one bright spot in the numbers, with the employment index remaining fairly resilient in the face of clearly deteriorating conditions and falling confidence.
Australians are terrified that labor will get in and Australia will go down the gurgler.
At the same time billshortenmp is contemplating increasing the minimum wage. Makes perfect sense.
The econ is slipping into recession yet we r importing Pacific n Timorese workers Any labor scheme'd become out of control 5yrs down d track we'd have 1000s stay illegally just like 457visas We'd get violent Port Moresby gangs
Looks like AustralianLabor is going to inherit a recession. Times are going to get tough.
Blame Labor for it, as for 6 years they haven't been able to get to power while best economy managers were running business...
You don’t need a survey, just walk around a shopping centre and see the empty shops.
The country is fearful of a Socialist government and a PM that will wreck this country...... that’s the truth....
The LNP recession? Thanks to thr policies of ScottMorrisonMP, JoshFrydenberg, etc. AusPol
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Source: SkyNewsAust - 🏆 7. / 78 Read more »