National Australia Bank's index of business confidence edged up to -1 in January 2020 from a 6-1/2-year low of -2 in December, but missing market expectations of 0. A similar pattern across industries continues, with services still outperforming and goods distribution soft. The impact of the bushfires was felt in the most populous states of New South Wales and Victoria. The gauge for business conditions stood at +3, continuing its below average run since April last year, as both sales (+5 vs +6) and profitability (+2 vs +1) were little-changed while employment eased markedly (+1 vs +4). Looking forward, businesses themselves do not anticipate a material improvement with forward orders still weak and capacity utilisation having fluctuated around its average in recent months.
Business Confidence in Australia averaged 5.78 points from 1997 until 2020, reaching an all time high of 21 points in April of 2002 and a record low of -30 points in October of 2008. This page provides - Australia Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: National Australia Bank
Business Confidence in Australia is expected to be 1.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Business Confidence in Australia to stand at 6.00 in 12 months time. In the long-term, the Australia Business Confidence is projected to trend around 7.00 points in 2021, according to our econometric models.