The nation’s business conditions have remained largely unchanged, with mediocre confidence continuing to plague the business community according to NAB’s monthly business survey.

While better wholesale, manufacturing and construction results were a pleasant surprise, dropping mining conditions dogged the business sector.

Near-term demand has remained low, while capacity utilisation and employment conditions are trending below average levels.

Driving the overall pessimism was a depressed mining sector, which has been hit by the flagging Australian dollar, which has hit a 33 month low over the last few days.

Recent adjustments to the projected GDP of the nation, which has been constantly revised down to a new 2 ½ per cent have also battered the confidences of the business sector.

Growing labour costs are also dogging the nation’s employers, with a slight up-tick in employment conditions being recorded.

However, growth is still projected to accelerate through 2013, as the country remains within the top OECD countries in terms of economic growth.

The full report can be found here

http://business.nab.com.au/wp-content/uploads/2013/06/monthly-business-survey-05-2013.pdf