The business sentiment index published by the National Australian Bank (NAB) dropped from 6 points in May to 0 points in June. The reading marked the sharpest drop since December last year, when the index plunged to minus 3 points, as the floods in Queensland dragged business sentiment down. With the June fall, the fourth in a row, business confidence hit the 0-threshold that separates positive from negative opinion, suggesting uncertain prospects for investment going forward. At a sector level, confidence is at its highest level in the mining sector (+7 points), as well as in transport and in the finance/business/property sector (both +5 points). Meanwhile, construction marked the lowest reading (-14 points), followed by manufacturing (-2 points), as a strong Australian dollar continues to negatively affect sentiment in this sector.
Australia Business Confidence
Business sentiment plunges in June
July 12, 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.