Australia Business Confidence June 2020

Australia

Australia: Business confidence soars and moves into optimistic terrain in June

July 14, 2020

The business confidence index produced by National Australia Bank (NAB) rose to 1.5 points in June, from minus 20.3 points in May. Therefore, the index moved above the zero-point threshold and logged the best result in one year, indicating that Australian businesses are mostly optimistic regarding economic conditions going forward.

Meanwhile, business conditions improved from May, on the back of less negative profitability, trading conditions and employment prospects. Furthermore, forward orders recovered notable lost ground although exports continued to decline.

FocusEconomics Consensus Forecast panelists see fixed investment falling 7.5% in 2020, which is down 1.0 percentage points from last month’s forecast. In 2021, the panel sees fixed investment growing 2.9%.


Author: Massimo Bassetti, Senior Economist

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Australia Business Confidence Chart


Australia Business Confidence June 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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