In February, the business sentiment index published by the National Australian Bank (NAB) dropped to 1.0 points from 4.0 points recorded in January, marking the first drop in six months. With the February reading, business confidence edged closer the 0-point threshold that separates positive from negative opinion, suggesting a moderation in investment prospects going forward. Confidence deteriorated notably in the retail and finance/business/property sector, while it rebounded in the mining sector after a sharp deterioration in January. Transport and utilities as well as recreation and personal services are the sectors showing the highest confidence level (both +5 points), whereas mining, finance/business/property and retail are the lowest ranking sectors (-2 points).
Australia Business Confidence
Business sentiment deteriorates in February
March 13, 2012
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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.
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Nominal retail sales inched up 0.4% in August from the previous month in seasonally-adjusted terms, up from July’s flat reading.
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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.
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The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.