Business bounce short-lived as election and rate cut fail to deliver

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The post-election bounce in business confidence appears to have been short-lived, as a respected NAB survey finds a broad-based loss of confidence and momentum

A flickering increase in business confidence appears to have been extinguished, and corporate Australia continues to lose momentum.Business confidence tumbled back to below average levels in June, despite the end of uncertainty over the federal election, and the RBA's first rate cutWeak forward orders point to an ongoing loss of momentum, although employment conditions picked up in June

"While business conditions increased slightly in the month, they remain well below average after trending lower for over a year now.

 

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