ONLY CHARTS #263

Aus NAB survey, Aus consumer confidence, NZ mortgage rates

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1. Australian firms reported that business conditions softened in January to be back below average.

Within that composite measure, profitability weakened the most.

Aussie retailers also reported that business conditions - particularly profitability - fell back below average in January after rising sharply in December…

2. Australian businesses reported slightly softer forward orders in January. The below-average reading continues to point to relatively subdued domestic demand growth.