The ongoing strength in employment is especially encouraging. The only concern remains around lower forward orders - though volatile - is our best read of underlying demand. By industry, mining again is reporting the strongest outcomes and confidence. Against that retail is weak and deteriorating. After showing some signs of building price pressures in recent months, surveyed measures of costs and prices generally eased in the month. Across the states, Tasmania continues to report the strongest conditions, followed by Victoria. Confidence continues to lag in NSW.

The business conditions index edged up 1pt to +15 index points in September, and appears to have stabilised after declining earlier in the year. Business confidence also ticked up 1pt in the month to +6, to be around its long-run average.