Australia Business Confidence January 2020

Australia

Australia: Business sentiment regains some lost ground at beginning of 2020

February 11, 2020

The business confidence index produced by National Australia Bank (NAB) rose to minus 0.8 points in January, from minus 2.5 points in December. That said, the index remained below the zero-point threshold, indicating that Australian businesses are mostly pessimistic regarding economic conditions going forward.

In terms of sectors, January’s increase came on the back of rising confidence in retail, wholesale, finance, and manufacturing. On the other hand, confidence in the construction, recreation and personal services and mining sectors weakened.

Meanwhile, business conditions weakened somewhat from December, as worse employment prospects and trading conditions more than offset an improvement in profitability.

FocusEconomics Consensus Forecast panelists expect fixed investment to grow 0.2% in 2020, which is unchanged from last month’s forecast. In 2021, the panel expects fixed investment to expand 2.1%.


Author: Massimo Bassetti, Economist

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Australia Business Confidence January 20 20

Note: Index of business sentiment; 0-point threshold indicates equal number of positive and negative responses.
Source: National Australia Bank’s Monthly Business Survey.


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