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Earlier this week, I reported that the latest NAB Business Survey showed conditions were at their lowest level since the pandemic, as profitability collapsed.
Chart from Alex Joiner (IFM Investors)
“The result suggests a growing share of firms are reporting margin squeeze, likely reflecting the combined impact of elevated costs and higher interest rates”, noted Westpac.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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