Australia Business Confidence February 2017

Australia

Australia: Business confidence moderates in February

March 14, 2017

The business confidence index produced by the National Australia Bank (NAB) fell to 7 points in February, below the 10 points registered in January. The indicator remains above its long-term average of 6 points and above the 0-point threshold, which means that Australian businesses are optimistic regarding economic conditions in the coming months.

According to the NAB, the fall was due to some temporary factors that had boosted confidence in January fading away in February. Business conditions fell sharply but remained above their long run average. The fall in business conditions was due to deteriorating trading, employment and profitability. On the broader implications for the economy, the NAB commented that the survey was “consistent with our expectation for the economy to enjoy solid rates of growth in the near-term.”

FocusEconomics Consensus Forecast panelists see fixed investment expanding 0.1% in 2017, which is up 0.5 percentage points from last month’s forecast. For 2018, the panel sees fixed investment growing 1.2%.


Author:, Economist

Sample Report

Looking for forecasts related to Business Confidence in Australia? Download a sample report now.

Download

Australia Business Confidence Chart


Australia Business Confidence February 2017 0

Note: Index of business sentiment; 0-point threshold indicates equal number of positive and negative responses.
Source: National Australia Bank’s Monthly Business Survey.


Australia Economic News

More news

Search form