NAB business survey (Feb) falls well below concensus

In Australia, the February NAB business survey has been released and should be taking a special interest in markets considering the timing of it related to the bush fires and the coronavirus impact.

NAB business survey

• BUSINESS CONDITIONS INDEX SLIPS TO 0 VS +2 IN JAN  vs 3 exp.
• BUSINESS CONFIDENCE INDEX DROPS TO -4 VS -1 IN JAN vs 0 exp.

 January’s survey showed business conditions +3, confidence -1, versus a long term average around +6.

So far, there has been little impact on AUD.

More to come