Australia: Business confidence improves in September
The business confidence index produced by National Australia Bank (NAB) rose from minus 8.2 points in August to minus 3.8 points in September. However, the index remained below the zero-point threshold that signals that Australian businesses are mostly pessimistic regarding economic conditions going forward.
Meanwhile, business conditions strengthened in September and swung to positive territory, on the back of improving employment conditions as well as profitability and trading conditions turning positive. Furthermore, forward orders grew less negative.