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Australia Business Confidence June 2020

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

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.

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