Australian businesses received exciting news last night with the release of the NABs latest findings on Business conditions. The Bank’s economics team have placed business conditions in October up 7 points (to 21 points), supported by improvements in manufacturing. Personal services have also seen a sharp spike. The gains were driven by higher sales and profitability. Inflation was softer and labour costs dropped sharply. The Bank’s Chief Economist, Alan Oster said “This is an extremely strong result, and of itself would suggest a better than expected performance for the economy.” Mr Oster said it was unclear how long these record levels of business conditions would remain. Retail conditions improved a small amount this month, and the construction industry remains very strong.
Contact us at First Choice Business Brokers on 9899-1888, when you’re ready to take the next step to buy a great business opportunity this year!