Australia: Business sentiment picks up in March
April 10, 2012
In March, the business sentiment index published by the National Australian Bank (NAB) picked up to 3.0 points from 1.0 points in February, when the index deteriorated for the first time in six months. With the March reading, business confidence moved further away from the 0-point threshold that separates positive from negative opinion, suggesting an improvement in investment prospects going forward. Confidence improved across most of the main sectors, in particular in mining, where it rose by 11 points. Mining is also the sector showing the highest confidence level, together with construction (both +10 points), whereas manufacturing is the lowest ranking sector (0 points).
Author: Armando Ciccarelli, Head of Data Solutions