Business conditions hit highest level in 20 years
BUSINESS conditions have struck their highest level in at least 20 years with companies seemingly turning a blind eye to Canberra’s citizenship crisis.
The National Australia Bank monthly business survey — which has been running since 1997 — also shows confidence holding above its longrun average, while its employment index continues to imply solid jobs growth.
“(This) should be sufficient to put more downward pressure on the unemployment rate,” NAB chief economist Alan Oster said.
The Turnbull government will be hoping for another positive labour force report on Thursday to at least temporarily shift focus from the citizenship fiasco that has dented its support in opinion polls.
Independent Tasmanian senator Jacqui Lambie quit Parliament yesterday after confirming she is a dual citizen.
Six senators and two MPs have so far been caught out over their citizenship status.
The rise in business conditions featured a strengthening in the manufacturing and personal services sectors, as well an improvement in retailing from a weak position.