National Australia Bank's index of business confidence picked up to 1 in June from -20 in May as the country began to emerge from coronavirus lockdowns. Still, the latest reading remained below the long-run average of 6. Mining and retail led the gains, with services still lagging due to social distancing and a lack of tourists. Business conditions bounced back but remained negative (-7 vs -24 in May),amid improvements in sales (-7 vs -19), profits (-8 vs -19) and employment (-11 vs -31). Meantime, forward orders saw a large improvement but remain significantly negative and well below average, while capacity utilization continued to recover but remains very low. "The survey was conducted just prior to the reintroduction of lockdowns in Victoria – so we will be closely watching next month's survey to see how confident and conditions are again impacted," said NAB chief economist Alan Oster.

Business Confidence in Australia averaged 5.19 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 August of 2020. source: National Australia Bank

Business Confidence in Australia is expected to be -5.00 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 5.00 in 12 months time. In the long-term, the Australia Business Confidence is projected to trend around 5.00 points in 2021 and 8.00 points in 2022, according to our econometric models.

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Australia Business Confidence

Actual Previous Highest Lowest Dates Unit Frequency
1.00 -20.00 21.00 -65.00 1997 - 2020 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-14 01:30 AM Mar -66 -4 -15
2020-05-12 01:30 AM Apr -46 -66 -75
2020-06-09 01:30 AM May -20 -45 -32 -38
2020-07-14 01:30 AM Jun 1 -20 -15
2020-08-11 01:30 AM Jul 1 -1
2020-09-10 01:30 AM Aug
2020-10-08 12:30 AM Sep -5
2020-11-12 12:30 AM Oct


News Stream
Australia Business Sentiment Improves
National Australia Bank's index of business confidence picked up to 1 in June from -20 in May as the country began to emerge from coronavirus lockdowns. Still, the latest reading remained below the long-run average of 6. Mining and retail led the gains, with services still lagging due to social distancing and a lack of tourists. Business conditions bounced back but remained negative (-7 vs -24 in May),amid improvements in sales (-7 vs -19), profits (-8 vs -19) and employment (-11 vs -31). Meantime, forward orders saw a large improvement but remain significantly negative and well below average, while capacity utilization continued to recover but remains very low. "The survey was conducted just prior to the reintroduction of lockdowns in Victoria – so we will be closely watching next month's survey to see how confident and conditions are again impacted," said NAB chief economist Alan Oster.
2020-07-14
Australia Business Sentiment Remains Weak
National Australia Bank's index of business confidence rose to -20 in May 2020 from a downwardly revised -45 in April and beating market consensus of -32, as the country began to emerge from coronavirus lockdowns. Still, the latest reading remained below the long-run average, with the figure last seen around the 1990s recession. Business conditions bounced back but remained negative (-24 vs -34 in April), amid improvements in sales (-18 vs -31), profits (-19 vs -35) and employment (-31 vs -34). Meantime, capacity utilization rose, still remaining historically low, and well below pre-coronavirus levels. Forward orders were also near record lows. "We will continue to closely watch the recovery in confidence, as it will likely be a key factor in how businesses recover from the largest downturn since the 1930s” said NAB economist Alan Oster.
2020-06-09
Australia Business Sentiment Improves
National Australia Bank's index of business confidence rose to -46 in April 2020 from a record low of -66 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 -26), 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.
2020-05-12
Australia Business Sentiment Falls to Record Low
National Australia Bank's index of business confidence plunged to a record low of -66 in March 2020 from -4 in February, reflecting severe damage caused by the COVID-19 pandemic. The index of business conditions plummeted to -21 from 0 in February, dragged down by sharp declines in sales, profits and employment. In addition, forward orders dropped to its lowest on record and capacity utilization tank. The virus has caused severe damage on two of Australia's most lucrative sectors - tourism and education - with the Reserve Bank of Australia (RBA) warning economic output will suffer a very sharp contraction this quarter. "While almost everyone expects a fairly rapid bound back in activity once the spread of the coronavirus is contained and social distancing rules are relaxed, the immediate worry for the business sector is the impact on cash flows," said NAB Group chief economist, Alan Oster. "For now more businesses expect it to get worse before it gets better."
2020-04-14

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.