July 14, 2026 02:46 AM GMT Australia Macro+ Data Pulse | Asia Pacific M Update Soft Conditions Across Consumer & Business Surveys Key Takeaways Exhibit 3: Both consumer and business sentiment improved slightly in the month, however, both remain deeply pessimistic -6 -5 -4 -3 -2 -1 0 1 2 3 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 Business Confidence Consumer Sentiment z-score Source: NAB, WBC-MI, Morgan Stanley Research Exhibit 4: Both employment and capex intentions moved sharply lower -2 -1 0 1 2 ...