Costs pressures easing as economic outlook softens (record low rental vacancies)

Cost pressures ease

More fairly soft results from the NAB Business Survey, for both business conditions and confidence. 

Some good news for the central bank here, with cost pressures easing almost across the board, albeit from an elevated level.

Look ahead, retail confidence is markedly low, and the index for forward orders remains in negative territory.

Source: NAB Survey

Meanwhile, the latest rental vacancies index from PropTrack shows vacancies remaining at record lows across most capital cities (except for Canberra and Darwin, basically). 

Source: PropTrack

The number of rental vacancies has plunged by 55 per cent since March 2020, with little sign of respite on the horizon for the time being. 

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