The Australian economy is undergoing a period of transition away from primary industries toward sectors like education, infrastructure and technology. Analysts say this could be a source of strength for the world’s twelfth largest economy, which is seen as a more transparent destination for global investors looking to diversify in the Asia-Pacific region.
Australia NAB Business Confidence Edges Higher to +6 in Q1
A closely watched measure of Australian business confidence rose in the first quarter, a sign the economy was back on track after a solid rebound at the end of 2016. The National Australia Bank (NAB) business confidence indicator climbed by one point to plus 6 in in the March quarter, on a scale where a reading above zero indicates improving conditions. The business confidence indicator edged down one point in the fourth quarter.
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