Australia: Business sentiment stable in May
June 11, 2013
In May, the business sentiment index published by the National Australian Bank (NAB) was stable at the revised minus 1.0 points recorded in April (previously reported: minus 2.0 points). At the current level, sentiment remains below the 0-point threshold that separates positive from negative opinion for a second consecutive month.
At a sector level, mining, transport and utilities as well as finance/business/property recorded an improvement whereas the remaining sectors deteriorated over the previous month. Despite the monthly rise, mining remains by far the most pessimistic sector overall, with sentiment hovering at a dismal minus 22 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