The business sentiment index published by the National Australian Bank (NAB) picked up from minus 9 points in August to minus 2 in September. The reading marked a notable change compared to the previous month, when the index experienced the largest drop since December 2009. With the September reading, business confidence moved closer to the 0-point threshold, which separates positive from negative opinion. According to the NAB, the moderating trend of the Australian dollar and prospects of an interest rate cut positively influenced sentiment in September. At a sector level, confidence increased the most in manufacturing, where sentiment rose by 15 points over the previous month. The highest confidence level can still be observed in the mining sector (+16 points), while wholesale trade is at the lowest level (-13 points).
Australia Business Confidence
Business sentiment picks up in September
October 11, 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.