Australia: Business sentiment drops in February
March 12, 2013
In February, the business sentiment index published by the National Australian Bank (NAB) fell to 1.0 points from the 3.0 points seen in January. With the February drop, sentiment moved closer to the 0-point threshold that separates positive from negative opinion.
The only sector to record an improvement in February was finance/business/property, while all the other industries recorded lower readings compared to the previous month. Finance/business/property is also the sector showing the highest confidence level, whereas sentiment remains most subdued in wholesale.
FocusEconomics Consensus Forecast panellists see fixed investment growing 4.1% in 2013, which is down 0.8 percentage points from last month's forecast. The panel sees investment expanding 3.1% in 2014.
Author: Armando Ciccarelli, Head of Data Solutions