Australia January business confidence +4 (prior -2) ...Middle East

Business Confidence +4, improved on expectations of lower interest rates

prior -2.0

prior 6.0 sales (down 4 to 6) and profits (down 6 to -2) declinedmargin pressures, particularly in retailAlan Oster, NAB’s chief economist says “Cost pressures remain high for businesses, but they aren’t fully passing them on to consumers, which is weighing on profitability and overall business conditions”

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Labour costs accelerated to a quarterly pace of 1.8%.Purchase cost growth slowed to 1.1%.Retail prices rose at a 0.9% quarterly pace, up from 0.7% in December.

Meanwhile, capacity utilisation fell to 82.0% from 82.7%, indicating slightly more slack in the economy.

This article was written by Eamonn Sheridan at www.forexlive.com.

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