Australia: Business confidence holds steady in April
May 11, 2015
The business sentiment index published by the National Australia Bank (NAB) was unchanged in April, remaining at March’s three points. The indicator is holding stable above the 0-point threshold, meaning that Australian businesses are optimistic regarding economic conditions in the coming months.
According to the NAB, confidence appears to have stabilized, however, the index is still coming in under the long-run average. The Bank also pointed out that, “falls in confidence were confined to a small number of industries (professional services and construction). While less negative than in the past, confidence in mining remain the weakest along with finance/ property/ business.”
Author: Robert Hill, Economist