Australia: Business sentiment slows in March but remains positive
April 12, 2011
The business sentiment index published by the National Australian Bank (NAB) dropped in March, falling to 9 points from 14 points in February. While the result represented a deterioration compared to the previous month, sentiment remained above the 0-threshold that separates positive from negative opinion for a third consecutive month and corroborated the notion that business confidence is recovering from the consequences of the January flooding, which affected the states of Queensland and Victoria. Business confidence deteriorated in most of the sectors covered by the survey, with the most significant falls recorded in retail (down 12) and construction (down 9). Confidence is now highest in finance, business and property (+20) and in mining (+19) while the construction sector is showing the weakest confidence levels.
Author: Armando Ciccarelli, Head of Data Solutions