NAB's Chief Economist.

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The figures came before the Reserve Bank's decision to increase interest rates in November that did not take into consideration that the sectors that performed poorly were highly reactive to interest rate changes.
But, the retail prices in October remained leveled that showed there was something good in store for the consumers.
For the first time in more than two years, the business profitability has landed into negative territory by declining to -4 from 6 in September. Talking about the trading conditions,[link widoczny dla zalogowanych], they dropped from 13 in September to 4 in October and the overall business conditions slid to 2 from 7.
"In economics they talk about one policy instrument for one policy target, and you can't have different interest rates for different sectors", said Alan Oster, NAB's Chief Economist.
The overall outlook was quite depressing as the forward orders reached -3, taking a negative position for the fourth time in past six months.
The monthly survey of National Australia Bank has revealed that the business profitability declined during the last month that signals that the recovery of Australian economy is not moving at a faster pace.
The construction conditions dropped to -10 in October, while those of retail slumped to -13. Only the mining and transport and utilities sectors' conditions noted to be the outperforming that stood at 33 and 28, respectively.