Australia Business Confidence


Australia: Business confidence inches up in December

January 27, 2015

The business sentiment index published by the National Australia Bank (NAB) increased from 1 point in November to 2 points in December. The indicator is still resting just above the 0-point threshold, which indicates that Australian businesses are somewhat optimistic regarding economic conditions in the coming months.

According to the NAB, the slight increase reflects more optimism among transport and utilities firms, which is driven by the fall in oil prices. Conversely, the drop in commodity prices led to more pessimistic expectations among mining companies. Despite the moderate increase, the NAB pointed out that, “confidence remains well below long run averages.”

FocusEconomics Consensus Forecast panelists see fixed investment rising 0.7% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees investment expanding 0.8% in 2016.

Author:, Economist

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Australia Business Confidence Chart

Australia Business Confidence December 2014

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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