NAB Qtly Business Survey / Housing

Yesterday the NAB came out with the Qtly business survey. If you'd like to see a copy please email me at yield@curvesecurities.com.au. The first page summarises the statistics and their forecasts. As you would expect they don't paint a great picture. Business conditions fell for the fifth month in a row to levels similar to the early 90s recession. Business expectations for the next 12 months are at the lowest level since the survey began in 1988. Confidence has improved moderately but is still at 1990s levels.

More positive news came from home sales figures yesterday. New home sales rose by 4.2% in Mch hitting a 13 month high. New home sales have now jumped over 20% since Dec