Business confidence climbs to two-year high
Businesses are more confident about the economy now than they were two years ago, according to the latest National Australia Bank (NAB) monthly business survey.
The NAB survey measure of confidence rose six points to reach plus-10 points in July, the highest level recorded since August 2007.
The index is determined by respondents’ views on trading, profits and employment. All three categories improved in July, lifting the overall business conditions index into positive territory for the first time since the start of 2008.
NAB chief economist Alan Oster said the figures are “encouraging”.