CHART OF THE DAY: Here's Your Economic Turnaround

The NAB Business survey for February is out at 11.30AM and it is the one piece of Australian economic news each month that I can’t live without.

The reason for this is that while the focus is rightly on the headline confidence and conditions numbers, the sub indices within the index are its real strength. So for years now the NAB survey has been a solid indicator of what is really happening in the economy.

While we have to wait till 11.30am to get the February number, the NAB yesterday released a chart which suggests that the recent run of strong data in Australia is set to continue and the pick-up in domestic demand is in train.

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