SYDNEY - Australian business conditions eased further in May to below their long-run average as growth in sales and profits slowed, a survey showed on Tuesday, while cost pressures showed signs of re-accelerating.) revealed its index of business conditions fell 1 point to +6, just below its long-run average. That was driven by declines in sales and profits indices, although the employment index rose after a tumble the month before.
The Reserve Bank of Australia left interest rates unchanged at 4.35% for a fourth straight meeting last month but it has yet to rule anything in or out on policy. It said that it was vigilant on any upside inflation risks. "We have been wary for some time that the path of inflation from here is likely to be gradual and uneven, and the survey results really reinforce this message," said Oster.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.