Australia Business Confidence


Business sentiment deteriorates further in May

The business sentiment index published by the National Australian Bank (NAB) inched down from 7 points in April to 6 points in May. With the May drop, the third in a row, business confidence is approaching the 0-threshold that separates a positive from negative opinion. At a sector level, confidence is at its highest level in the mining sector and in the finance, business and property sector (both +10 points). Manufacturing marked the lowest reading (-2 points), as a strong Australian dollar continues to negatively affect sentiment in this sector.

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