Australia: Business confidence moderates in October
November 11, 2014
The business sentiment index published by the National Australian Bank (NAB) fell from the 5 points tallied in September to 4 points in October, the lowest level in over one year. However, the indicator still rests above the 0-point threshold, which indicates that Australian businesses are optimistic regarding economic conditions in the coming months.
According to the NAB, the moderation in business confidence was unexpected and indicates that firms are uncertain on near-term demand conditions. In addition, the employment index improved moderately from September’s low level.