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.”
Author: Robert Hill, Economist