SYDNEY (Reuters) – A closely-watched measure of Australian business confidence improved in July but conditions remained sub-par and employment waned in a worrying sign for the economy, a survey showed on Tuesday.
National Australia Bank’s index of business conditions fell 2 points to +2 in July, reversing a rise in June. The survey’s measure of business confidence edged up to +4, but still remained below the long-run average.
Decline - Business - Conditions - Average - Levels
“The decline in business conditions since early 2018 has been broad-based and has continued to track at below average levels in recent months,” said NAB group chief economist Alan Oster.
“This is concerning, because while conditions remain positive, it points to a...
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