Australia: Business sentiment drops into negative territory in October
November 13, 2012
In October, the business sentiment index published by the National Australian Bank (NAB) dropped to minus 1.0 points from zero points in September. With the October reading, sentiment dropped below the 0-point threshold that separates positive from negative opinion, suggesting deteriorating investment prospects going forward. At a sector level, the reading was driven by a strong deterioration in the construction sector. Finance/business/property as well as transport and utilities were the sectors showing the highest confidence level, while mining and construction were the lowest ranked sectors.
Author: Armando Ciccarelli, Head of Data Solutions