Sydney Australia skyline

Australia Business Confidence February 2020

Australia: Business sentiment at over seven-year low on coronavirus fears in February

The business confidence index produced by National Australia Bank (NAB) dropped to minus 3.6 points in February, from minus 1.0 points in January, dragged down by rising concerns on the economic impact of Covid-19. Therefore, the index logged its worst result since July 2013 and moved further below the zero-point threshold, indicating that Australian businesses are mostly pessimistic regarding economic conditions going forward.

In terms of sectors, February’s decrease came reflected falling confidence in retail, recreation and personal services and finance. On the other hand, confidence in the wholesale and mining sectors strengthened.

Moreover, business conditions weakened from January, as worse profitability and trading conditions more than offset a slight improvement in employment prospects. Furthermore, forward orders worsened markedly and exports also declined.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest