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Australia business activity booms in July, costs surge
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Australia business activity booms in July, costs surge

View of a construction site for a train station on the Sydney Metro, Australia July 22, 2021. REUTERS/Sam HolmesRegister now for FREE unlimited access to Reuters.comRegisterSYDNEY, Aug 9 (Reuters) - A measure of Australian business confidence rebounded in July as sales and profits held up surprisingly well in the face of rising interest rates and high inflation, though firms also reported record costs amid supply constraints.Tuesday's survey from National Australia Bank Ltd (NAB) (NAB.AX) showed its index of business conditions climbed 6 points to +20 in July, well above its long-run average.Its measure of confidence bounced 5 points to +7, reversing June's decline and leaving it just above the long-run average.Register now for FREE unlimited access to Reuters.comRegister"The strength i...