Australia: Business sentiment moderates in October
November 12, 2013
The business sentiment index published by the National Australian Bank (NAB) fell from 12.0 points in September to 5.0 points in October. Despite the decrease, the indicator remains well above the 0-point threshold, which indicates that Australian businesses are still optimistic regarding economic conditions in the coming months.
The October results brought the index down from the record high that came on the back of the 7 September elections. The NAB reported that, "businesses may have reassessed their expectations about future activity in the changed political environment given the continued weakness in actual business conditions."
FocusEconomics Consensus Forecast panelists see fixed investment growing 1.0% in 2013, which is down 0.7 percentage points from last month's forecast. The panel sees investment expanding 1.5% in 2014, which is down 0.2 percentage points from last month's estimate.