NAB Monthly Business Survey September 2025

This document is the NAB Monthly Business Survey for September 2025, which presents findings on business confidence and conditions within the Australian economy. Business confidence increased by 3 points to +7 index points, recovering from a decline in August and surpassing the long-run average. Business conditions remained stable at +7 index points, with improvements in trading conditions and profitability countered by a decrease in the employment index. The profitability index has risen significantly since May, indicating potential growth in labor demand. However, forward orders have dropped below average, signaling a potential concern for future activity. The survey indicates that while certain industries such as mining and construction have shown gains, sectors like services and retail have experienced declines. Capacity utilization has reached its highest level since May 2024, suggesting robust activity levels. The survey reflects a broader trend of easing price pressures in the economy, with various cost growth metrics showing slight increases but remaining lower than earlier in the year.