Australia NAB business confidence steadies at 15 in June

Dhwani Mehta FXStreet

Australia’s business confidence index arrived at +6 index points, matching the estimate of 6, according to National Australia Bank (NAB) business survey 2018. The business conditions index steadied at +15 index points in June compared to an expected jump to 18 index points.

Summary:

“There was little change in headline business conditions and confidence in June, following the pull-back in May. Conditions remain well above average after increasing in early 2018, with the strength spread across most industries. Conditions in the retail industry continue to lag those of the other industries. Business confidence continued to hover at an around average level after also easing recently. While forward looking indicators have weakened a little, they still point to favourable business conditions for the rest of 2018.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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