Business confidence in Australia strengthened in the three months ended December, following a decline in the previous quarter, the latest survey from National Australia Bank showed on Thursday.
The NAB business confidence index rose to 4.0 in the fourth quarter from 1.0 in the previous quarter. In the second quarter of 2015, the reading was 4.0.
At the same time, current business conditions eased slightly in December, with the index falling to 9.0 from 10.0 in the prior three-month period.
The index measuring forward orders also dropped marginally in the fourth quarter, but remain reasonably positive, indicating growing momentum for business in the near-term.
The employment index improved further in the three-month period to December, suggesting relatively modest rates of employment growth.
“The Survey is confirming yet again that despite the issues facing the mining sector, Australia continues to enjoy a relatively healthy, vibrant and adaptive economy,” NAB Group Chief Economist Alan Oster, said.
“The longer these market volatilities persist, the more likely we will see an impact via sentiment channels.”
The material has been provided by InstaForex Company – www.instaforex.com