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Financial News: Australia Business Confidence Weakens In August: NAB

Australia Business Confidence Weakens In August: NAB

09/12/2017 - 00:45:00 (RTTNews)

(RTTNews) - Business confidence in Australia weakened in August, while business conditions strengthened to its highest since 2008, the latest survey figures from National Australia Bank showed Tuesday.

The business confidence index slumped to 5.0 in August from 12.0 in the preceding month. Moreover, the index remained below its long-run average for the first time since mid-2016.

The survey's measure of business conditions improved further to 15 in August from 14 in July. The latest reading was the highest since early 2008.

Among individual components, employment index rose notably to 11 in August from 7 in the prior month. The forward orders index increased slightly from 3 to 4 in August.

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