Australia Business Confidence June 2021

Australia

Australia: Business confidence falls in June

July 14, 2021

The business confidence index produced by National Australia Bank (NAB) plunged to 10.7 points in June from 20.0 points in May, marking a six-month low reading. Nevertheless, the index remained entrenched above the zero-point threshold that signals Australian businesses are mostly optimistic regarding economic conditions going forward.

Meanwhile, business conditions weakened in June, after recording the best reading in the survey’s history in May.

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 June 2021

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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