Australia: Business Conditions up 1pt to +15, Confidence up 1pt to +6 - Westpac

The NAB business survey of Australian economy reported that conditions and confidence rose in September, points out the research team at Westpac.

Key Quotes

“Business confidence rose to +6 from a revised +5 (previously +4, down from +7 in July).”

“The change of Prime Minister on August 24, and the associated uncertainty around public policy, likely dented confidence in August. September’s recovery to +6 indicates the marginal drop in sentiment was short-lived.”

“Business conditions increased to +15 in September from a revised +14 in August (previously +15).”

“The trends for both confidence and conditions have stabilised in recent months after easing back through the first half of the year. Confidence is around average and conditions remain at an elevated level.”