Australia: Business sentiment deteriorates further in May
June 14, 2011
The business sentiment index published by the National Australian Bank (NAB) inched down from 7 points in April to 6 points in May. With the May drop, the third in a row, business confidence is approaching the 0-threshold that separates a positive from negative opinion. At a sector level, confidence is at its highest level in the mining sector and in the finance, business and property sector (both +10 points). Manufacturing marked the lowest reading (-2 points), as a strong Australian dollar continues to negatively affect sentiment in this sector.
Author: Armando Ciccarelli, Head of Data Solutions