Australia: Business confidence hits lowest level since July 2013
December 10, 2014
The business sentiment index published by the National Australian Bank (NAB) fell from the 5 points tallied in October to 1 point in November, which marked the lowest level in over one year. Consequently, the indicator rests just above the 0-point threshold, which indicates that Australian businesses are optimistic regarding economic conditions in the coming months.
According to the NAB, the moderation in business confidence reflects businesses uncertainty over the outlook of their industries. In addition, the employment index decreased from October’s level.