The NAB business confidence index in Australia dropped to a four-month low of 6 in May 2022 from 10 in April, amid high inflation, rising interest rates and cost pressures. Wholesale and construction saw big falls in sentiment, though both stay in positive territory. The latest print was just above its long-run average, pointing that sentiment was still at a fairly robust level. Meantime, business conditions eased (16 vs 19 in April), as both sales (24 vs 2) and profitability (17 vs 21) edged down from high levels while employment rose further (11 vs 10). Further, capacity utilization was almost equal with the record high seen pre-Delta (85% vs 84.2%), and forward orders also elevated (12 vs 10). "Overall, the survey indicates the economy has maintained its momentum into Q2 and most businesses are in strong position despite the inflation headwinds, with the lift-off in interest rates and global growth risks yet to significantly impact the economy," said NAB Chief Economist Alan Oster. source: National Australia Bank
Business Confidence in Australia averaged 5.34 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 July of 2022.
Business Confidence in Australia is expected to be 16.00 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.