Australia: Business sentiment picks up in January
February 14, 2012
In January, the business sentiment index published by the National Australian Bank (NAB) inched up to 4.0 points from the 3.0 points recorded in December. With the January reading, business confidence remains above the 0-point threshold, which separates positive from negative opinion, for a fourth consecutive month. Confidence improved notably in the finance/business/property sector, while it deteriorated markedly in the mining sector ?reflecting the softening outlook for global demand and commodity prices, as well as the ever strengthening Australian dollar?. Retail is the sector showing the highest confidence level (+6 points), followed by recreation and personal services (-5 points), whereas mining is the lowest ranking sector (-8 points).
Author: Armando Ciccarelli, Head of Data Solutions