Aussie business slump fuels case for RBA rate cuts

Capacity utilisation fell to 81.4%, returning to its long-run average for the first time since mid-2021. — Bloomberg

SYDNEY: Australian business conditions eased in April as profitability weakened, forward orders slipped and firms’ spending plans took a hit, boosting the case for the Reserve Bank of Australia (RBA) to cut interest rates to support the economy. 

Business conditions, which measure sales, profitability and employment, slid last month, National Australia Bank Ltd (NAB) said in a report yesterday.