SYDNEY – Australia's business conditions eased sharply in May, dented by slower gains in sales and employment, suggesting demand growth is moderating in the wake of the central bank's most aggressive tightening campaign in its modern history. The survey from National Australia Bank Ltd (NAB) released on Tuesday showed its index of business conditions fell by a sizeable seven points to +8 in May, but they remained just above the long-run average. The volatile measure of confidence dipped back to negative territory, falling to -4 from April's 0, showing that the number of firms that are pessimistic outnumbered those that are optimistic.

https://business.inquirer.net/405155/australia-business-activity-slows-sharply-in-may-more-risks-ahead

#inquirer