Australian business confidence in Q1 comes in at -4 (prior -1) | Forexlive

National Australia Bank quarterly business survey for the January – March quarter of 2023

Business confidence comes in at -4

• expectations were around 2
• prior was -1

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NAB conducts both a monthly business survey and a quarterly survey.

• both surveys aim to provide insights into the state of the economy and the performance of businesses

There are some key differences between the two, apart from the obvious (frequency of data collection and timeliness of release) a key difference is scope of coverage:

• The monthly business survey is focused on providing a timely snapshot of the business environment in Australia. It covers a wide range of sectors and provides data on business conditions, business confidence, sales, profits, employment, and other key indicators.
• The quarterly survey is more in-depth. It includes more detailed questions on specific topics such as investment intentions, borrowing, and exports.
• The quarterly survey has a larger sample size.

While both surveys provide valuable insights into the current state of the economy, the quarterly survey is better suited for identifying longer-term trends. This is because it includes more detailed questions on investment intentions and other forward-looking indicators that can provide insights into future economic activity.