Australia Business Confidence


Business confidence stable in May

The business sentiment index published by the National Australian Bank (NAB) was stable at April’s 7 points in May. Thus the indicator remained above the 0-point threshold, which indicates that Australian businesses are optimistic regarding economic conditions in the coming months.

Businesses were slightly more pessimistic regarding current business conditions. As the NAB put it, “together with the poor conditions reported by wholesale – a bellwether industry – it suggests little scope for improvement in domestic demand.” Among the categories that registered an optimistic surge, forward orders saw the greatest increase in optimism. According to the NAB, the surge in forward orders came in as a response of a re-stocking process.

FocusEconomics Consensus Forecast panelists see fixed investment growing 0.1% in 2014, which is unchanged from last month’s forecast. The panel sees investment expanding 0.9% in 2015.


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Australia Business Confidence Chart

Australia Business Confidence May 2014

Note: Index of business sentiment; 0-point threshold indicates equal number of positive and negative responses.
Source: National Australia Bank’s Monthly Business Survey.

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