Australia: Business confidence recovers in March
April 14, 2015
The business sentiment index published by the National Australia Bank (NAB) jumped from zero points in February to three points in March. The indicator is now above the 0-point threshold, meaning that Australian businesses are optimistic regarding economic conditions in the coming months.
According to the NAB, all of the components of the index improved. As the Bank pointed out, “much of the improvement was driven by a particularly large jump in mining confidence (up 29), while outcomes in other industries were generally mixed.” Conversely, confidence deteriorated in the retail sector, which fell into negative territory for the first time since the middle of 2013.
Author: Robert Hill, Economist