Australia Business Confidence


Business sentiment rebounds to highest level in over two years

Business confidence rebounded in August to the highest level since May 2011. The business sentiment index, published by the National Australian Bank (NAB), swung from minus 3.0 points in July to plus 6.0 points in August. The index is now above the 0-point threshold that separates positive and negative sentiment, which suggests improving business conditions in the coming months.

The improvement was broad-based; mining, construction and finance/business/property recorded notable gains. Despite the improvement in mining, however, it continues to be mired in pessimistic territory at minus 3 points.

FocusEconomics Consensus Forecast panelists see fixed investment growing 3.4% in 2013, which is down 0.5 percentage points from last month's forecast. The panel sees investment expanding 3.2% in 2014.

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Australia Business Confidence Chart

Australia Business Confidence August 2013

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

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