The NAB business confidence index in Australia was up 2 points to 10 in August 2022, continuing to rebound from the June low, amid easing concerns over the impact of high-interest rates. Sentiment was largely steady or improving for most sectors except construction. Meantime, business conditions edged higher (20 vs 19 in July), staying above average, with sales rising further (30 vs 26) while employment (16 vs 18) and profitability (16 vs 18) were still strong. Capacity utilization stayed at a very high level at 86.3% while forward orders rose (13 vs 11). Conditions remain strong across the states and in most industries. Meantime, cost indicators eased from the records set in July but remained elevated. “Overall, the survey indicates that demand remained strong,” said NAB Group Chief Economist Alan Oster. “We continue to expect that inflation and rising interest rates will eventually begin to weigh on the household budget. So far, however, it appears this dynamic is yet to take hold.” source: National Australia Bank
Business Confidence in Australia averaged 5.35 points from 1997 until 2022, reaching an all time high of 23 points in April of 2021 and a record low of -66 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 September of 2022.
Business Confidence in Australia is expected to be 13.00 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 10.00 points in 2023, according to our econometric models.