Australia's NAB business confidence index rose 3 points to -1 in December 2022 but stayed in the negative territory for the second month and remained below its long-run average. Sentiment strengthened across most industries, except transport & utilities. Meanwhile, business conditions weakened, dropping for the third month (12 vs 20 in November) amid falls in sales (18 vs 27), profitability (12 vs 19), and employment (8 vs 13). The decline was broad-based, with all sectors moderating. Leading indicators suggested conditions might ease further, with forward orders edging down (3 vs 5) and capacity utilization relaxing above average at 83.7%. Price and cost growth slowed but remained elevated. "Momentum is clearly slowing though activity remains solid," said NAB chief economist Alan Oster. "We know the full impact of rates is yet to fully flow through so the survey should give us an indication of the accelerating impact from rates over coming months." source: National Australia Bank
Business Confidence in Australia averaged 5.28 points from 1997 until 2022, reaching an all time high of 23.00 points in April of 2021 and a record low of -66.00 points in March of 2020. This page provides - Australia Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Business Confidence - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.
Business Confidence in Australia is expected to be 4.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Business Confidence is projected to trend around 7.00 points in 2024 and 5.00 points in 2025, according to our econometric models.