Business conditions hovered at four-year lows in July as confidence slumped to an eight-month dip, according to NAB’s Monthly Business Survey, July 2013 – and business credit continues to be a significant area of contention.
A falling Australian dollar and the ‘lure of lower interest rates’ proved unable to improve business confidence levels, which reached their lowest point since November, 2012.
The major lender said it’s likely the weakness in business activity and profitability is the key driver of weaker confidence – though it’s also possible that uncertainty over the timing of the Federal election kept businesses wary during the month, as the survey was conducted prior to the election being called.
As a result of the findings, NAB predicts another rate cut as early as November and said ‘more cuts may follow’.
“We remain a touch more bearish than recently revised forecasts from the government and the RBA.”
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
east victoria park
tweed heads south
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out