The business sentiment index published by the National Australian Bank Ltd. (NAB) plunged into negative territory in December, falling to minus 3 points from plus 6 points in November. At the current level, business sentiment sits under the 0-threshold that separates positive from negative sentiment. According to the NAB, the Queensland floods of December and January, which have been estimated to have caused damages amounting to USD 20 billion, weighed on business confidence. In particular, deteriorating conditions within the mining, transport, agriculture and tourism sectors of the affected areas dragged sentiment into negative territory. A further decline in business confidence is expected in January as the negative impact of the floods wash through the economy.
Australia Business Confidence
Floods drive confidence down into negative territory
February 17, 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.
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The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.