Australia Business Confidence March 2021

Australia

Australia: Business confidence weakens but remains strongly upbeat in March

April 19, 2021

The business confidence index produced by National Australia Bank (NAB) dropped to 15.5 points in March from 17.8 points in February. Nevertheless, the index remained comfortably above the zero-point threshold that signals that Australian businesses are mostly optimistic regarding economic conditions going forward.

Moreover, business conditions strengthened considerably in March, recording the best reading in the survey’s history.

FocusEconomics Consensus Forecast panelists see fixed investment expanding 1.5% in 2021, which is unchanged from last month’s forecast. In 2022, the panel sees fixed investment growing 4.6%.


Author: Massimo Bassetti, Senior Economist

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Australia Business Confidence March 2021

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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