GDS @ Bloomfield College | Government figures on jobs are due on Thursday and analysts
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Government figures on jobs are due on Thursday and analysts

20 Aug Government figures on jobs are due on Thursday and analysts

Australia business confidence jumps to 2yr high in Aug

SYDNEY, Sept 10 (Reuters) Australian business confidence uk canada goose surged in August as firms hoped a Federal election would put Canada Goose Outlet an canada goose uk shop end to political uncertainty, though Tuesday survey showed actual conditions were weak with a worrying downturn in employment.

National Australia Bank monthly survey of over 600 firms found confidence improved across buy canada goose jacket all sectors following a canada goose coats cut in interest rates early in August and ahead of an expected victory cheap Canada Goose by the conservative Liberal National Coalition in elections on Sept. 7.

The Canada Goose Coats On Sale survey main measure of Canada Goose Online business confidence shot up to 6, from canada goose clearance 3 in July, the highest reading since May 2011 and the sixth largest monthly increase in the series history.

The swing came despite a tough trading background, with the survey measure of business conditions improving only marginally to 6 in August, from 7 in July.

it is difficult to prove, it is likely that expectations of political change and a decisive result were very important, said NAB chief economist, Alan Oster.

The survey was taken from Aug. 20 and Sept. 3, when opinion polls indicated the business friendly opposition would comfortably defeat the Labor government.

The polis proved correct, with canada goose the cheap canada goose uk Coalition gaining a handy majority in the lower house of parliament to end three years of minority canada goose coats on sale rule.

The brighter mood was reported across all industries and States, canada goose uk outlet with major improvements in mining, construction and finance/business/property. Some Canada Goose online sectors could have been further buoyed uk canada goose outlet by a revival in the housing market and a lower Australian dollar.

Oster also noted there had been a solid and synchronised lift in business confidence across the advanced economies in recent surveys globally.

said (Australian) canada goose black friday sale confidence is now only back to average levels Canada Goose Jackets and much will depend on canada goose factory sale whether the current bounce is canadian goose jacket maintained or erodes canada goose clearance sale away in the face of poor business conditions, Oster cautioned.

Indeed, there was canada goose uk black friday scant sign of much pick up in activity Canada Goose sale during Canada Goose Parka August. black friday canada goose The survey index for sales stayed at a soft 5 in August, while that for profitability edged up to 9, from a very low 11.

Worryingly, the measure buy canada goose jacket cheap for employment dropped 4 canada goose store points to 9, the lowest reading since 2009. Government figures on jobs are due on Thursday and analysts have been tipping an increase in unemployment to 5.8 percent, from 5.7 percent.

The risk of a further increase in unemployment is one reason many analysts think the Reserve Bank of Australia (RBA) will be forced to cut rates again, having eased to an historic low of 2.5 percent last month.

There should be scope for further easing if needed as Tuesday survey confirmed a very benign background for inflation. Retail prices rose by just 0.1 percent at a quarterly rate, while labour costs moderated.

still expect the RBA to cut again before years end probably in November on the back of continuing low core inflation and a weaker labour market, said Oster. (Reporting by Wayne Cole; Editing by Eric Meijer).