Australia Business Confidence January 2017

Australia

Australia: Business confidence improves in January

February 14, 2017

The business confidence index produced by the National Australia Bank (NAB) jumped to 10 points in January, well above the 6 points registered in December. The indicator moved past its long-term average of 6 points and further above the 0-point threshold, which means that Australian businesses are optimistic regarding economic conditions in the coming months.

According to the NAB, business confidence was able to maintain the gains it made in December. Business conditions improved strongly, reaching pre-crisis levels and now sit comfortably above their long-term average. The improvement in business conditions was due to better trading and employment conditions. On the broader implications for the economy, the NAB commented that the survey “is consistent with an anticipated rebound in economic activity.’

FocusEconomics Consensus Forecast panelists see fixed investment contracting 0.3% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, the panel sees investment falling 1.6%.


Author:, Economist

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Australia Business Confidence January 2017

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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