National Australia Bank's index of business confidence rose to -46 in April 2020 from a record low of -65 in March, amid the coronavirus crisis. Still, the latest reading remains around twice as weak as the 1990s recession. Business conditions weakened further (-34 vs -22 in March), well below the levels seen in the global financial crisis, dragged down by declines in sales (-33 vs -19), profits (-35 vs -28) and employment (-35 vs -20). All industries continued to deteriorate, except for mining which saw a large increase and transport & utilities which was flat. Meantime, forward orders fell at a faster pace (-36 vs -28), suggesting that activity is likely to weaken further in the near term. Capacity utilization dropped to a fresh record low reflecting a sharp downturn in activity for a significant portion of the economy.
Business Confidence in Australia averaged 5.30 points from 1997 until 2020, reaching an all time high of 21 points in April of 2002 and a record low of -65 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 2020. source: National Australia Bank
Business Confidence in Australia is expected to be -30.00 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 -12.00 in 12 months time. In the long-term, the Australia Business Confidence is projected to trend around -5.00 points in 2021 and 3.00 points in 2022, according to our econometric models.