empty
 
 

2021.05.1005:46:00UTC+00Australia NAB Business Conditions, Confidence Reach Record High

Australia's business conditions and confidence reached record levels in April, survey results from National Australia Bank showed on Monday.

The business conditions index rose to a fresh record high of 32 in April from 24 in March.

The improvement was driven by further improvements in each subcomponent. Trading conditions rose 5 points to +40 in April, profitability was up 8 points to +33, and employment rose 7 points to +22 index points. Each component was the highest on record.

The employment index continued to strengthen, even as the JobKeeper program has come to an end and employment has recovered to its pre-COVID level.

The business confidence also set a new record high of 26 points versus 17 in the previous month, indicating that conditions will remain strong in the near term.

Confidence improved in all industries, led by a pickup in retail. In trend terms, mining, construction and finance, business and property were most optimistic, while retail and wholesale were the least confident - but still healthy, the survey showed.

"It looks like we have moved past the rebound phase of the recovery and are now seeing healthy growth in most of the economy," NAB Group Chief Economist, Alan Oster, said. After lagging in the rebound phase, the services sectors started showing strength.

  • 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 $1000 more!
    In April we raffle $1000 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