Australia: Business sentiment drops in April
May 9, 2011
The business sentiment index published by the National Australian Bank (NAB) dropped in April, falling from 9 points in March to 7 points. The result represented a deterioration compared to the previous month and saw the index move closer to the 0-threshold that separates positive from negative opinion. At a sector level, confidence moderated in the mining and manufacturing sector, while it improved notably in transport, utilities and construction. In particular, the improvement in the construction category reflects expectations that rebuilding efforts in Queensland, the state most affected by the flooding at the beginning of the year, will get under way in the coming months.
Author: Armando Ciccarelli, Head of Data Solutions