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.

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Australia Business Confidence



Calendar GMT Actual Previous Consensus TEForecast
2022-08-09 01:30 AM Jul 7 2 2
2022-09-13 01:30 AM Aug 10 8 6
2022-10-12 12:30 AM Sep 10


Related Last Previous Unit Reference
Business Confidence 10.00 8.00 points Aug 2022
Capacity Utilization 86.33 86.68 percent Aug 2022
Small Business Sentiment 2.21 7.99 Jun 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
10.00 8.00 23.00 -66.00 1997 - 2022 points Monthly
SA

News Stream
Australia Business Sentiment Rises Further
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.”
2022-09-13
Australia Business Sentiment Picks Up
The NAB business confidence index in Australia bounced back 5 points from June to 7 in July 2022, a marked rally amid headwinds from inflation and rising interest rates, as well as a deteriorating global economic outlook. Sentiment rose significantly in construction, retail, wholesale, manufacturing, and mining. Meantime, business conditions strengthened (20 vs 14 in June), staying well above average, as sales (27 vs 19), profitability (17 vs 13), and employment (17 vs 11) all increased. Forward orders were fairly strong (10 vs 11), while capacity utilization rose to a new peak of 86.7%, and cost indicators surpassed the record levels set in June. The strength in conditions remained broad-based across states and industries, with a pickup in construction. “Overall, the survey suggests that despite global and domestic headwinds, demand has remained strong – and inflationary pressure continues to build suggesting that inflation is yet to peak,” said NAB Group Chief Economist Alan Oster.
2022-08-09
Australia Business Sentiment Deteriorates
The NAB business confidence index in Australia fell 5 points from a month earlier to a below-average of 1 in June 2022, dragged down by global uncertainty, looming interest rate hikes and soaring inflation. Confidence in the retail sector took a significant hit, amid large falls across mining, manufacturing, finance, and business & property. Meanwhile, business conditions eased further (13 vs 15 in May), as sales (18 vs 21), profitability (12 vs 16) and employment (10 vs 12) all declined. That said, forward indicators remained healthy with capacity utilization at 84.8% (vs 84.9% in May) and forward orders at 10 (vs 13 previously). Cost price growth hit new survey records, as labor cost growth was at 3.6% in quarterly terms and buying cost growth came in at 4.8%. “Overall, the survey suggests firms are increasingly wary of how the economy will hold up over the months ahead, despite continuing to experience fairly strong conditions at present,” said NAB Chief Economist Alan Oster.
2022-07-12