Australia Business Confidence August 2021

Australia

Australia: Business confidence improves in August

September 14, 2021

The business confidence index produced by National Australia Bank (NAB) improved to minus 5.3 points in August from minus 7.3 points in July, which had marked the lowest reading since July 2020. Therefore, the index remained entrenched below the zero-point threshold that signals Australian businesses turned mostly pessimistic regarding economic conditions going forward.

Meanwhile, business conditions strengthened in August.

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 August 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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