Australia Business Confidence Weakens Slightly In Q2: NAB
July 18 2018 - 9:57PM
RTTF2
Australia's business confidence weakened marginally in the three
months ended June, but remained a little above average, quarterly
survey data from the National Australia Bank showed Thursday.
The business confidence index dropped to 7 in the second quarter
from 8 in the previous quarter.
After strengthening to historically high levels in the first
quarter, business conditions index fell by 2 points to 15 in the
June quarter. However, the index remained well above average.
Conditions remained favorable across all states and most
industries, especially in the mining sector, likely reflecting
higher commodity prices, growing exports, abating cost pressures
and rising productivity.
Overall, leading indicators continue to suggest favorable
business conditions and investment in 2018 and some tightening in
the labor market.
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