Australia: Business confidence at highest level in close to three years in November
The business confidence index produced by National Australia Bank (NAB) soared from 3.2 points in October to 12.4 points in November, marking the highest reading since April 2018. Therefore, the index moved further above the zero-point threshold that signals that Australian businesses are mostly optimistic regarding economic conditions going forward.
Meanwhile, business conditions strengthened considerably in November and moved further into positive territory, on the back of improving trading and profitability conditions as well as stronger forward orders.