Australia: Business sentiment inches up in March
April 9, 2013
In March, the business sentiment index published by the National Australian Bank (NAB) rose to 2.0 points from the 1.0 points seen in February. With the March increase, sentiment remained above the 0-point threshold that separates positive from negative opinion for a fourth consecutive month.
Construction as well as recreation and personal services recorded the largest improvement over the previous month. Construction is also the sector showing the highest confidence level, amid optimism "about the outlook for dwellings investment due to an improving housing market".
FocusEconomics Consensus Forecast panellists see fixed investment growing 3.9% in 2013, which is down 0.2 percentage points from last month's forecast. The panel sees investment expanding 2.8% in 2014.
Author: Armando Ciccarelli, Head of Data Solutions