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.