AM Notes: Inflation Panic Day
Markets still on an aimless wander...
Australia's NAB business survey was resoundingly positive
- Business conditions rose to a record high in March, driven by strong increases in all subcomponents - which are all now also all at record highs
- The strength in conditions is evident across all states and industries. Forward orders – which also rose to record levels – points to ongoing strength in activity with the pipeline of work rising further
- While business confidence edged lower in the month, it remains at a high level, suggesting that firms themselves are optimistic that the strength in activity will continue.