Jan
28
Australia Firms See Worst Slump in Conditions Since Financial Crisis
By-
Money markets now pricing in a 70% chance of interest-rate cut
- Weaker business conditions dovetail with lower economic growth
Australian firms suffered the worst slump in conditions since the 2008 global financial crisis as evidence mounts that the economy slowed in the latter part of last year.
The business conditions index — measuring hiring, sales and profits — dropped to 2 in December from 11 a month earlier, a National Australia Bank Ltd. report showed Tuesday. A gauge of employment fell to 4 from 9 in November, while profitability plunged to zero from 8. A separate confidence index was unchanged at 3…
Australia Firms See Worst Slump in Conditions Since Financial Crisis
