May 09, 2011
Source: www.news.com.au
Story By: Jason Cadden
BUSINESS conditions worsened in April, hit by the rising Australian dollar and by an anticipated interest rate rise by the central bank, a survey shows.
The National Australia Bank (NAB) Business Survey for April showed that business conditions fell four index points to plus five points, staying above the zero level that separates expansion from contraction.
"Business conditions slipped back in April, unwinding some of the strong surge in March. This was driven by a sharp fall in trading conditions and a drop in profitability, although employment edged higher," NAB said in a statement accompanying the survey today.
By industry, further falls in conditions were evident in manufacturing, construction and personal and recreational services, NAB said.
To read the full story, follow this link: www.news.com.au/business/breaking-news/business-conditions-worsen-in-april-nab/story-e6frfkur-1226052578672
