NAB business confidence survey was released earlier today pointing to highest levels in 3 1/2 years

NAB business confidence survey was released earlier today pointing to highest levels in 3 1/2 years. Following the Ferderal Election the survey showed confidence in key areas such as property and finance have ticked up and a number of forward indicators are alos giving positive signs. Employment still lurks as a challenge for the economy along with the pace of industrial growth in some developed economies starting to falter. Full summary from NAB on the following link Animal spirits lift again. Confidence surges to its highest level in 3½ years. Business conditions, however, still subdued - with employment poor. Signs of better conditions in finance/ business/ property and construction. Forward indicators - including orders, stocks and capacity utilisation - point to future improvement. But our wholesale leading indicator less certain. Firms manage to increase prices modestly but margins still under pressure. Forecasts unchanged except cash rate cut delayed to February.