Australian business conditions faltered in October as sales growth slowed while weakness in retail prices pointed to still-low inflation and the chance interest rates may yet have to be eased further. National Australia Bank's monthly survey of more than 500 firms showed its index of business conditions dipped 2 points to +6 in October, more than reversing September's one-point gain. The index remains above its long-run average, however.
The survey's measure of business confidence held also lost 2 points to stand at +4 in October. Sales and employment slipped in the month while profits held steady.