Australia Business Confidence July 2022

Australia

Australia: Business confidence strengthens in July

August 9, 2022

The business confidence index produced by National Australia Bank (NAB) rose to 7.0 points in July from 1..4 points in June. Consequently, the index moved further above the zero-point threshold that signals Australian businesses were mostly optimistic regarding economic conditions going forward.

Improved profitability, trading and employment conditions were behind the stronger reading.

Meanwhile, business conditions improved in July.

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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