Is the recent recovery short lived? One or two steps forward, now a step back. The NAB Business Conditions index disappointingly back-pedalled sharply in February to a reading of 0 from +5, reversing around half the post-election gains. On a more positive note, Business Confidence also softened but at a reading of +7 (after +9 in January) still remains marginally above trend and did not slide.
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NAB