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.’
Author: Christopher Mc Innes, Economist