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.

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Australia Business Confidence



Calendar GMT Actual Previous Consensus TEForecast
2022-12-13 12:30 AM Nov -4 0 2
2023-01-24 12:30 AM Dec -1 -4 3 -2
2023-02-14 12:30 AM Jan -1 1


Related Last Previous Unit Reference
Business Confidence -1.00 -4.00 points Dec 2022
Capacity Utilization 83.70 84.95 percent Dec 2022
Small Business Sentiment 9.74 2.21 points Sep 2022

Australia Business Confidence
The NAB monthly survey of business confidence is based on a telephone survey of around 600 small, medium and large size non-agricultural companies. The Survey measures the expectations of business conditions for the upcoming month and is a simple average of trading, profitability and employment indices, reported by respondents for their company. The indices are calculated by taking the difference between the percentage of respondents nominating good or very good, or a rise and those nominating poor or very poor, or a fall.
Actual Previous Highest Lowest Dates Unit Frequency
-1.00 -4.00 23.00 -66.00 1997 - 2022 points Monthly
SA

News Stream
Australia Business Mood Improves
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."
2023-01-24
Australia Business Mood Turns Downbeat
The NAB business confidence index in Australia fell 4 points to -4 in November 2022, the first negative print since December 2021, amid rising inflation and higher interest rates. Sentiment mainly fell in manufacturing, construction, and retail. Meantime, business conditions fell, with all three subcomponents easing: sales (28 vs 30 in Oct), profitability (20 vs 21), and employment (13 vs 14). Conditions dropped in finance, business & property while rising in manufacturing and mining. Leading indicators were softer, with forward orders down (5 vs 8) and capacity utilization slightly lower albeit above average at 85.2%; and cost growth measures showed little sign of easing. The survey found that the gap between current conditions and confidence was at a record level, heightening concerns about the resilience of the economy. “Overall, the survey suggests the economy powered through November with consumers still spending in the run-up to Christmas,” said NAB chief economist Alan Oster.
2022-12-13
Australia Business Mood Falls to 10-Month Low
The NAB business confidence index in Australia declined 5 points to 0 in October 2022, marking the lowest figure since a negative print in December 2021 and falling below the long-run average, amid concerns over rising interest rates and a gloomy global outlook. Confidence fell sharply, among others, in transport & utilities, mining, manufacturing, finance, and wholesale. Meantime, business conditions eased a bit, remaining above their pre-COVID peak, as sales (31 vs 37 in September) and profitability (22 vs 21) stayed strong while employment was still high (11 vs 14). Meantime, companies were running flat out with capacity utilization just off a record high at 85.8%, while forward orders fell (7 vs 14). At the same time, strong price growth reinforced expectations that inflation will continue to rise during Q4. "Overall, the survey suggests that firms are growing wary of the potential for a slower period ahead, despite ongoing strong demand, said NAB chief economist Alan Oster.
2022-11-08