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NAB Business confidence increased to +12

Tuesday, Aug 08 2017
NAB Business confidence increased to +12

The recent strength in business conditions was maintained going into the start of the third quarter. The business conditions index rose 1 point, to +15 index points, which is three times the long-run average (+5). Similarly, the business confidence index rose 4 points in July, to +12 index points. Confidence has been fairly volatile, and while not as lofty as business conditions, the index is still double its long-run average.

According to Mr Alan Oster, NAB’s Chief economist, “The strong run shown by the business sector continued in the July, with both business conditions and confidence seeing an improvement. Business confidence has gradually been chasing business conditions higher for some time, and has likely seen some additional support this year from an improving global environment as well, although there are still some notable risks”.

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