The NAB business confidence index in Australia jumped to 21 in October 2021 after a downwardly revised 10 a month earlier. This was the highest reading since April while staying above the long-run average, as lockdowns ended in both New South Wales and Victoria and vaccination rate rose further. Retail, business, finance & property, and personal & recreation all saw large confidence improvements. Meantime, business conditions were also back above their long-run average, jumping to 11 from 5 in September, amid a rebound in sales (17 vs 10 in September), profitability (8 vs 2), and employment (6 vs 1). Conditions improved in construction, recreation & personal services, and manufacturing. Capacity utilization bounced back to 81.5% (vs 78.2) and forward orders climbed (15 vs -1), with both now back above average. "These results support our expectation of a strong rebound in activity as lockdowns are lifted in the final months of 2021,” said Alan Oster, NAB group chief economist. source: National Australia Bank
Business Confidence in Australia averaged 5.32 points from 1997 until 2021, 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 December of 2021.
Business Confidence in Australia is expected to be 25.00 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 2022, according to our econometric models.