Australia: Business confidence weakens in November

The business confidence index produced by National Australia Bank (NAB) fell to 11.5 points in November from 19.9 points in October. However, the index remained above the zero-point threshold that signals Australian businesses were mostly optimistic regarding economic conditions going forward.

Meanwhile, business conditions strengthened in November.

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%.