Australia: Business sentiment deteriorates in February
March 13, 2012
In February, the business sentiment index published by the National Australian Bank (NAB) dropped to 1.0 points from 4.0 points recorded in January, marking the first drop in six months. With the February reading, business confidence edged closer the 0-point threshold that separates positive from negative opinion, suggesting a moderation in investment prospects going forward. Confidence deteriorated notably in the retail and finance/business/property sector, while it rebounded in the mining sector after a sharp deterioration in January. Transport and utilities as well as recreation and personal services are the sectors showing the highest confidence level (both +5 points), whereas mining, finance/business/property and retail are the lowest ranking sectors (-2 points).
Author: Armando Ciccarelli, Head of Data Solutions