Business Survey for July: Business conditions remain at 4 year lows

FXstreet.com (Barcelona) - National Australia Bank's Business Confidence for July came at -3 vs 0 prior, while AUD National Australia Bank's Business Conditions stood at -7 vs -8 prior.

According to NAB: "Business conditions remain at 4 year lows while confidence slumps to 8 month low – despite a falling AUD and lower interest rates. Conditions very poor in manufacturing, construction, mining, retail and wholesale; WA now the weakest state. Forward orders, stocks and employment still very poor. Weaker AUD hurting wholesale and retail purchase costs but weak activity sees this reflected in lower profits not higher prices."