Australia: Business Conditions up 1pt to +15, Confidence up 1pt to +6 - Westpac

Sandeep Kanihama FXStreet Contributor

The NAB business survey of Australian economy reported that conditions and confidence rose in September, points out the research team at Westpac.

Key Quotes

“Business confidence rose to +6 from a revised +5 (previously +4, down from +7 in July).”

“The change of Prime Minister on August 24, and the associated uncertainty around public policy, likely dented confidence in August. September’s recovery to +6 indicates the marginal drop in sentiment was short-lived.”

“Business conditions increased to +15 in September from a revised +14 in August (previously +15).”

“The trends for both confidence and conditions have stabilised in recent months after easing back through the first half of the year. Confidence is around average and conditions remain at an elevated level.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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