Australia: Business sentiment inches up in April
May 10, 2012
In April, the business sentiment index published by the National Australian Bank (NAB) inched up to 4.0 points from 3.0 points in March, marking a second consecutive monthly increase. With the April reading, business confidence moved further above from the 0-point threshold that separates positive from negative opinion, suggesting an improvement in investment prospects going forward. At a sector level, confidence improved markedly in retail as well as in recreation and personal services (both +6 points). On the other end of the spectrum, confidence deteriorated in mining (-5 points) and wholesale trade (-5 points). Construction is the sector currently showing the highest confidence level (+10 points), whereas manufacturing was the lowest ranking sector for a second consecutive month (0 points).
Author: Armando Ciccarelli, Head of Data Solutions