The NAB business confidence index in Australia dropped to 10 in April 2022 from a 5 month-high of 16 in March but remained above its long-run average. Sentiment eased considerably in transport & utilities, recreation, and finance. Meantime, business conditions went up strongly (20 vs 15 in March), as both sales (27 vs 23) and profitability (22 vs 12) continued to strengthen while employment held firm (at 10). The gains came on the back of a long-awaited recovery in the recreation & personal services sector and an improvement in manufacturing conditions. Forward orders eased slightly (9 vs 12) while capacity utilization rose (83.9% vs 83.4%). Meantime, Cost pressures continued to climb after hitting record growth rates in March, with labor cost growth up to 3.0% and purchase cost growth reaching 4.6% in quarterly terms -- both at new highs. "Overall, the survey highlights the ongoing strength in activity and the broad-based nature of the recovery," said NAB Chief Economist Alan Oster. source: National Australia Bank
Business Confidence in Australia averaged 5.34 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 May of 2022.
Business Confidence in Australia is expected to be 16.00 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.