empty
 
 

2021.02.0904:14:00UTC+00Australia's Business Conditions Weaken; Confidence Rises: NAB

Australia's business conditions weakened from the December high, while business confidence strengthened in January, survey results from the National Australia Bank showed Tuesday.

The business conditions index dropped 9 points to 7 in January. However, the score was above average and back around November levels.

Meanwhile, the business confidence index advanced 5 points to 10 in January.

The overall drop in conditions was driven by a decline in all three sub-components with trading conditions leading the fall and the employment index also easing in the month. That said all three sub-indexes remained in positive, expansionary territory.

Among industries, conditions remained strongest in retail and weakest in construction followed by personal services.

Capacity utilization edged up in the month, while forward orders weakened from December. On investment, capex rose to be just in positive territory at 1 index point.

"Business started the year on a more optimistic note, even as conditions eased from the strength we saw in December," Alan Oster, NAB group chief economist.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback