Another Aussie inflation index craters

The NAB business survey this time. Goldman.

Overall business conditions were broadly unchanged at +4 in February,remaining a bit below the longer-term average of +7.

Forward orders also remained negative (-3), while capacity utilisation continued to edge lower (-10bps to 81.9%).

Inflation pressures also eased, with growth in final selling prices (-38bps to+0.46%qoq) annualising below the RBA’s 2-3% target band for the first time since January 2021.

Yes, that is below the RBA band and back to lowflation with a bullet.

Old McGoo has done it again: crushed wages and inflation as it pretends the immigration-led, labour market expansion economic model is inflationary.

It is straightforward corruption.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.