The NAB business confidence index in Australia fell sharply to 11 in June 2021 from 20 in the prior month, amid COVID-19 lockdowns in New South Wales and Victoria. Confidence weakened in all industries except mining and manufacturing, with recreation & personal suffering a steep drop as businesses were shut. That said, confidence remains around twice its long-run average after strengthening in early 2021. Business conditions also saw a sharp fall after reaching a new high in May, as trading (35 vs 45), profitability (25 vs 39), and employment (17 vs 25) all declined Also, forward orders came off the record highs hit last month but remained elevated (15 vs 24), as does capacity utilization (83.9 vs 85.0). The decline was led by falls in finance, business & property, and mining, though a number of other industries saw solid declines as well. "The hope is that, as like previous episodes of shutdowns, that businesses bounce back on reopening," said Alan Oster, NAB group chief economist. source: National Australia Bank
Business Confidence in Australia averaged 5.32 points from 1997 until 2021, reaching an all time high of 23 points in April of 2021 and a record low of -64 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 July of 2021.
Business Confidence in Australia is expected to be 19.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Australia to stand at 11.00 in 12 months time. In the long-term, the Australia Business Confidence is projected to trend around 10.00 points in 2022, according to our econometric models.