The NAB business confidence index in Australia rose 9 points from the prior month to a record high of 26 in March 2021 and implied that conditions will remain solid in the near term, amid the strength in capacity utilization and forward orders, which both toppled previous highs. Confidence improved in all industries, led by a pickup in retail. Also, business conditions reset last month’s record high, with trading (40 vs 35), profitability (33 vs 25), and employment (22 vs 15) all reaching fresh highs. Conditions improved in all states, except for the South Australia. By sector, large increases were seen in mining and the service sectors with finance, business & property now the strongest non-mining industry. Manufacturing, wholesale, and recreation also reported improving conditions. “It looks like we have moved past the rebound phase of the recovery and are now seeing healthy growth in most of the economy," said Alan Oster, NAB Group Chief Economist. source: National Australia Bank
Business Confidence in Australia averaged 5.25 points from 1997 until 2021, reaching an all time high of 26 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 May of 2021.
Business Confidence in Australia is expected to be 18.00 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 6.00 in 12 months time. In the long-term, the Australia Business Confidence is projected to trend around 8.00 points in 2022, according to our econometric models.