Australian business conditions hold strong in Aug, cost pressure elevated

SYDNEY - Australian business conditions proved resilient yet again in August with a broad uptick in sales, profits and jobs, while inflationary pressures remained elevated, a result that could add to the case for more monetary tightening to tame inflation. A survey from National Australia Bank Ltd (NAB) released on Tuesday showed its index of business conditions rose to +13 in August, from an upwardly revised +11 in July. Its volatile measure of confidence bounced 1 point to +2. The survey's measure of employment gained 3 points to +9, while the sales index picked up 1 point to +18 and profitability rose 2 points to +13. Forward orders, an indicator for the demand outlook wh...Keep on reading: Australian business conditions hold strong in Aug, cost pressure elevated

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