Peter Costello (Higgins, Liberal Party, Treasurer) Share this | Hansard source

I thank the honourable member for Grey for his question. I can inform him that the NAB released its business survey in January 2006. It showed a significant moderation, with trading conditions losing most of the gain that they had in December. Capacity utilisation fell significantly and forward orders weakened. However, the business confidence index—an indication of business activity in the month ahead—improved slightly, by 10 points, and confidence levels remain above the 2005 average and the long-term average. ABS lending finance data was also released today and shows that commercial finance fell in December, although there was a very large increase in the month of November. Personal finance increased by 1.9 per cent, but, despite that, it was 3.3 per cent lower throughout the year.

Also adding to confidence and economic prospects in the economy was the Australian Unity wellbeing index, the happiness index, which was released yesterday. I just want to say a big congratulation to the member for Wide Bay, the happiest kingdom in Australia. Of course, I visited that electorate last year—

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