In August, the business sentiment index published by the National Australian Bank (NAB) dropped to minus 2.0 points from plus 3.0 points in July. With the August reading, sentiment sits below the 0-point threshold that separates positive from negative opinion for the third time in the last four months. The August reading suggests a deterioration in investment prospects going forward. At a sector level, confidence dropped broadly across the board, with the steepest slide experienced in the mining sector (-14 points), reflecting a weaker outlook for commodity prices. Mining is also the sector currently showing the lowest confidence level, together with construction (both at -9 points), whereas recreation and services is the highest ranked sector (+3 points).
Australia Business Confidence
Business sentiments reverts to negative territory in August
September 10, 2012
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Australia Business Confidence Chart
Note: Index of business sentiment; 0-point threshold indicates equal number of positive and negative responses.
Source: National Australia Bank
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.