Australia: Business confidence weakens in December
The business confidence index produced by National Australia Bank (NAB) dropped to 4.5 points in December from 12.7 points in November, which had marked the highest reading since April 2018. However, the index remained above the zero-point threshold that signals that Australian businesses are mostly optimistic regarding economic conditions going forward.
On the other hand, business conditions strengthened considerably in December and moved further into positive territory, on the back of improving trading conditions as well as stronger employment intentions.