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Australia Business Confidence February 2023

Australia: Business confidence deteriorates in February

The business confidence index produced by National Australia Bank (NAB) dropped to minus 4.0 in February from 6.2 in January. Consequently, the index moved below the zero-point threshold that signals Australian businesses were mostly pessimistic regarding economic conditions going forward.

Sentiment worsened in the wholesale and construction industries.

Moreover, business conditions weakened in February.

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