The September NAB Business Survey will be in focus today week as analysts gauge whether the recent improvement in private-sector activity has continued into the final month of Q3. Both business confidence (August was +7) and business conditions (+4) remain close to their long-term averages, pointing to a steady—if unspectacular—backdrop for corporate activity.
Economists say the finer details of the report will matter just as much as the headline readings. The price and cost components will attract particular scrutiny after Australia’s latest inflation data came in hotter than expected. Any renewed upward movement in labour costs or purchase prices could signal that underlying price pressures are persisting, complicating the Reserve Bank of Australia’s path toward further easing. Conversely, softer cost trends would support expectations that inflation is cooling and that the RBA could maintain its easing bias heading into 2026.
The data is due at 0030 GMT / 2030 US Eastern time.
