The business sentiment index published by the National Australian Bank (NAB) swung from minus 1 points in September (previously reported: -2 points) to plus 2 points in October. The reading marked a second consecutive improvement in the index, which is now at its highest level since May this year. In addition, with the October reading business confidence moved above the 0-point threshold, which separates positive from negative opinion, for the first time in the last three months. According to the NAB, sentiment improved across a majority of the main industrial sectors. Confidence increased most in construction, where sentiment rose by 24 points over the previous month. Construction is also the sector that shows the highest confidence level (+14 points), followed by mining (+10 points), whereas finance/business/property is the lowest ranking sector (-1 points).
Australia Business Confidence
Business sentiment picks up in October
November 10, 2011
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Australia Economic News
October 12, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4.
October 11, 2016
The business confidence index published by the National Australia Bank (NAB) was stable in September at August’s 6 points.
October 5, 2016
Nominal retail sales inched up 0.4% in August from the previous month in seasonally-adjusted terms, up from July’s flat reading.
October 4, 2016
At its 4 October monetary policy meeting, the Reserve Bank of Australia (RBA) kept its policy rate steady at an all-time low of 1.50% after cutting its rate by 25 basis points twice this year, once in May and once in August.
September 15, 2016
The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.