Australia Business Confidence August 2022

Australia

Australia: Business confidence strengthens in August

September 13, 2022

The business confidence index produced by National Australia Bank (NAB) rose to 10.2 in August from 7.5 in July. Consequently, the index moved further above the zero-point threshold that signals Australian businesses were mostly optimistic regarding economic conditions going forward.

Improved sales and forward orders were behind the stronger reading.

Meanwhile, business conditions improved in August.

FocusEconomics Consensus Forecast panelists see fixed investment expanding 3.2% in 2022, which is unchanged from last month’s forecast. In 2023, the panel sees fixed investment growing 3.5%.


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