In contrast, the business confidence index declined by 2pts to +9 index points. According to Mr Oster “The fall in confidence may reflect the turbulence seen in international financial markets in early February, but confidence remains above average suggesting that the impact was relatively limited”.
NAB Business Confidence rose to +21
- Tuesday, Mar 13 2018
The business conditions index moved 3pts higher to +21 index points. This is a record high since the monthly survey commenced in March 1997, although the same measure in NAB’s quarterly survey reached this level in 1994. According to Alan Oster, NAB Group Chief Economist “The record level for the NAB Monthly Business Survey business conditions index indicates that business activity in Australia is robust. Moreover, the strength in conditions is broad based across industry groups.”