Australia Business Confidence


Australia: Business confidence rises in November

December 8, 2015

The business sentiment index published by the National Australia Bank (NAB) rose from three points in October to five points in November. The increase pushed the indicator further above the 0-point threshold, which means that Australian businesses are even more optimistic regarding economic conditions in the coming months.

According to the NAB, the index has recovered some of the gains it had lost last month. However, the NAB stated that the result was somewhat disappointing and that this month’s reading was still below the long-run average. The NAB reported that there was a divergence in sentiment between sentiment in the mining and non-mining sectors. It also stated that, “given improved prospects for the domestic economy (outside of mining), relatively subdued confidence is most likely a reflection of the uncertain global economic environment.”

FocusEconomics Consensus Forecast panelists see fixed investment contracting 1.3% in 2016, which is unchanged from last month’s forecast. For 2017, the panel sees investment decreasing 0.8%.

Author:, Economist

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Australia Business Confidence Chart

Australia Business Confidence November 2015 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.

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