Australia Business Confidence November 2020

Australia

Australia: Business confidence at highest level in close to three years in November

December 11, 2020

The business confidence index produced by National Australia Bank (NAB) soared from 3.2 points in October to 12.4 points in November, marking the highest reading since April 2018. Therefore, the index moved further above the zero-point threshold that signals that Australian businesses are mostly optimistic regarding economic conditions going forward.

Meanwhile, business conditions strengthened considerably in November and moved further into positive territory, on the back of improving trading and profitability conditions as well as stronger forward orders.

FocusEconomics Consensus Forecast panelists see fixed investment expanding 1.5% in 2021, which is unchanged from last month’s forecast. In 2022, the panel sees fixed investment growing 4.6%.


Author: Massimo Bassetti, Senior Economist

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Australia Business Confidence Chart


Australia Business Confidence November 20 20

Note: Index of business sentiment; 0-point threshold indicates equal number of positive and negative responses.
Source: National Australia Bank’s Monthly Business Survey.


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