Australia: Business sentiment improves in June
July 9, 2013
In June, the business sentiment index published by the National Australian Bank (NAB) rose to 0.0 points from minus 1.0 points recorded in May. With the increase, sentiment hit the 0-point threshold that separates positive from negative opinion, suggesting stable conditions for businesses in the coming months.
At a sector level, business sentiment in mining as well as in wholesale and retail deteriorated over the previous month, whereas confidence improved in the remaining industries. Mining remains by far the most pessimistic sector overall, with sentiment hovering at a dismal minus 21 points.
FocusEconomics Consensus Forecast panellists see fixed investment growing 3.4% in 2013, which is down 0.5 percentage points from last month's forecast. The panel sees investment expanding 3.2% in 2014.
Author: Armando Ciccarelli, Head of Data Solutions