Australia Business Confidence May 2022


Australia: Business confidence weakens in May

June 16, 2022

The business confidence index produced by National Australia Bank (NAB) dropped to 6.0 points in May from 10.1 points in April. Consequently, the index remained above the zero-point threshold that signals Australian businesses were mostly optimistic regarding economic conditions going forward.

Meanwhile, business conditions softened in May.

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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