Now this will confuse economists, analysts and members of the Reserve Bank who are wondering about the economic means. According to the most recent National Australia Bank survey for June, the business situation has deteriorated (no surprise), but business confidence has jumped to an 18-month high (a big surprise).
Both don’t sound good, do they? Although the situations were in line with the long-term trend of the survey, the improvement in confidence was almost widespread in 7 of the 8 sectors surveyed each month.
The NAB said the economic situation has fallen by two to four index issues and “are now obviously below the long-term average. “
This fall is explained by the fall in employment (down from 6 issues to 0 issues in the index) and in profitability indices (down from 1 point to 2 issues in the index), while advertising situations remained strong in 10 issues of the index (not rounded).
“The business situation continued its long-standing easing trend in June,” according to Gareth Spence, head of Australian economics at NAB. “They are now below average, reflecting the slowdown in the economy through late 2023 and early 2024,” he wrote on Tuesday.
“It’s worth noting the sharp drop in the employment index during the month,” Spence said. “Although it’s only a month old, the employment index is now below its long-term average and may simply mean that the overall slowdown in the economy is having a greater effect on labor force demand. “
But confidence has increased from 6 issues to four index issues, driven by the increase in 7 of 8 sectors.
The growth was due to innovations in the production and wholesale industry sectors, while in other sectors there were increases of 6 numbers or more, while the structure fell by 3 numbers.
“Business confidence rose relatively strongly over the month and is now back into positive territory and its highest point since early 2023,” Spence said.
However, the survey also highlighted measures of activity for the month that NAB said were mixed, with futures orders and capital investment weakening.
A key metric, capacity utilization, is higher and remains well above average at 83. 5%, according to the NAB.
“Forward orders are still largely in negative territory and have been for some time,” S. Spence. La main cause of the weakness in futures orders in recent months has been the retail and wholesale sector, although the manufacturing sector weakened further. the month and now it is also very weak. “
Labor rate expansion slowed to 1. 8% on a quarter-equivalent basis (from 2. 3% in May) and purchase rate expansion also slowed to 1. 3% (from 1. 7%). The expansion in the value of output fell to 0. 7% overall (from 1. 1%). Growth was broadly solid at 1. 5%, while prices for recreation and personal use fell to 0. 7% (from 1. 1%).
“Overall, our view on the survey is that it continues to point to another weak quarter in the second quarter,” S. Spence said. But also that capacity utilization remains high, with demands and sources that have not yet fully normalized. Price pressures continue to decline in the direction of a trend, factual knowledge remains uneven.
In terms of state activity, the NAB said the survey showed that the situation had improved dramatically in Tasmania (down 20 points), New South Wales and South Africa (down 7 points), and slightly less in WA (down 2 points) and Vic (down 1 point). Qld (up 6 points) was the only state that increased the month.
Receive updates directly to your inbox.
Terms of use | Privacy Policy | Contact | Mail
Deep Leads Resource Increases Across the Board: Quality, Tonnage and Target Zone ABx Group has reported a 30% increase in its mineral resource estimate (MRE) at the rare ion adsorption clay earth deposit ( IAC) from Deep Leads in northern Tasmania. The accumulation at MRE comes from 36 assayed exit wells, representing a significant northward extension to the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding MoUs within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese raw materials trader, signed a memorandum of understanding for up to 25,000 t/year. Subject to execution, this is a feat as Ford and Hanwa are set to collaborate on long-term strategic partnerships with LKE. Trade negotiations are still ongoing but should, namely whether Ford and Hanwa will inject new capital into LKE, removing additional risks in financing the task and thus ensuring that LKE and Kachi are fully funded.
Two recent gravity studies have particularly exceeded expectations and revealed prospects for extension of the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade Tier 1 SOP production center around Lake Throssell.
Lately, TMG is completing paints in preparation for the PFS planned for early 2023, adding the start of drilling in Q3 2022, evaporation testing and permitting activities. The effects of these systems will affect the PFS and any long-term resource improvements.
SOP reference prices have increased to around $940/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that each 10% accrual in value effects amounted to $144 million accrued to the NPV of the $364 million allocation. The accrual of around 70% compared to the scoping study implies an NPV of the allocation of approximately $1. 4 billion.
Despite falling oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to show improvement in its main indicators.
WT Financial Group Limited (WTL) is a developing diversified monetary company, founded in 2010 and indexed on the Australian Stock Exchange (ASX) in 2015. Its recommendations and product offerings are provided primarily through an organization of monetary advisors independents who act as legal representatives. of WTL under its broker organization businesses Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisors in over two hundred money advice companies across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a full study report on ASX-listed biotech Immutep Ltd (ASX: IMM). He was so inspired by IMM that Corporate Connect found it imperative to publish a follow-up report that valued the company, as the market did not see the great prospects of eftilagimod alfa (efti).
This monitoring report was published today. Using comparables, after adding a dollar reduction to its EV estimate and dividing by the total number of percentages issued, Corporate Connect now puts the fair price of one percentage of Immutep at A$2. 20.