Australia: Business sentiment rebounds in July
August 14, 2012
In July, the business sentiment index published by the National Australian Bank (NAB) picked up to 4.0 points from minus 3.0 points in June. The July reading marks a rebound after two consecutive months in which business confidence sat below the 0-point threshold that separates positive from negative opinion, and suggests an improvement in investment prospects going forward. At a sector level, confidence improved strongly in mining, likely reflecting a stabilisation of commodity prices in July. Meanwhile, construction is the sector currently showing the lowest confidence level (-7 points), whereas recreation and services is the highest ranked sector (+10 points).
Author: Armando Ciccarelli, Head of Data Solutions