Australia Business Confidence August 2020

Australia

Australia: Business confidence improves in August

September 12, 2020

The business confidence index produced by National Australia Bank (NAB) fell from minus 14 points in July to minus 8 points in August. However, the index remained below the zero-point threshold that signals that Australian businesses are mostly pessimistic regarding economic conditions going forward.

Meanwhile, business conditions weakened in August, on the back of slumping employment conditions as well as profitability and trading conditions turning slightly negative. Furthermore, forward orders moved further into contractionary territory.

FocusEconomics Consensus Forecast panelists see fixed investment falling 8.1% in 2020, which is unchanged from last month’s forecast. In 2021, the panel sees fixed investment growing 1.7%.


Author: Massimo Bassetti, Senior Economist

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Australia Business Confidence August 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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