Australia Business Confidence April 2020

Australia

Australia: Business confidence recovers somewhat but remains deeply negative in April

May 12, 2020

The business confidence index produced by National Australia Bank (NAB) rose to minus 45.7 points in April, from record-low minus 65.4 points in March. That said, the index remained entrenched deeply below the zero-point threshold, indicating that Australian businesses are mostly pessimistic regarding economic conditions going forward, due to containment measures to limit the spread of Covid-19.

Meanwhile, business conditions tumbled from March, on the back of plummeting profitability, trading conditions and employment prospects. Furthermore, forward orders slumped and exports also declined, though to a lesser extent.

Panelists are still assessing the latest developments.


Author: Massimo Bassetti, Economist

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Australia Business Confidence April 20 20

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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