Businesses continue to look at the future with some skepticism. Companies again report weaker employment outcomes in December, while capital spending also weakened somewhat. The official cash rate is even more firmly on hold for the foreseeable future.

Alan Oster

Future Skepticism

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[Board chair George Russell expressed his skepticism about future funding from the state.] The big issue is the money, ... There's not even enough money to fix the potholes, so how are we going to figure this out?

— George Russell

FutureMoneySkepticism

Oil-sensitive sectors continue to weaken, led down by retailing, wholesaling and transport,

The story is one of continuing boom conditions in mining and very strong nonresidential construction activity. The Reserve Bank is still very much on hold, watching both the inflation outlook and domestic demand.

The story is one of continuing boom conditions in mining and very strong nonresidential construction activity, ... The Reserve Bank is still very much on hold, watching both the inflation outlook and domestic demand.

There was continuing strength in mining, equipment manufacturing, nonresidential construction and utilities. Against that, residential construction, parts of agriculture and both wholesale and retail report poor and falling business conditions.