Australia's NAB business confidence index was up to 1 in March 2024 from 0 in the prior month. Figures stayed below its long-run average, with sentiment mainly improving in retail, construction, and transport. Meanwhile, business conditions were little changed (9 vs 10 in Feb), as sales (at 14) and employment (at 6) were steady while profitability fell (6 vs 10). Forward orders were less negative (-1 vs -3), and capacity utilization eased slightly (83.2% vs 83.4%). Labour cost growth dipped to 1.6% in quarterly equivalent terms from the prior 2.0%, and purchase cost growth slowed to 1.4% from 1.8%. Retail price growth edged down to 1.3% from 1.4%. “Cost pressures remain elevated but have eased a little more, but retail price growth remains elevated,” said NAB's chief economist Alan Oster. “Fundamentally, this aligns with our expectation that progress on bringing inflation back to target will be gradual, and we expect that to be further reinforced by Q1 CPI result in April.” source: National Australia Bank
Business Confidence in Australia increased to 1 points in March from 0 points in February of 2024. Business Confidence in Australia averaged 5.06 points from 1997 until 2024, reaching an all time high of 23.00 points in October of 2021 and a record low of -68.00 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 April of 2024.
Business Confidence in Australia increased to 1 points in March from 0 points in February of 2024. Business Confidence in Australia is expected to be 5.00 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 5.00 points in 2025 and 4.00 points in 2026, according to our econometric models.