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Australia Business Confidence May 2021

Australia: Business confidence moderates in May

The business confidence index produced by National Australia Bank (NAB) dropped to 19.8 points in May from 23.5 points in April, which had marked a record-high reading. Nevertheless, the index remained entrenched above the zero-point threshold that signals that Australian businesses are mostly optimistic regarding economic conditions going forward.

Meanwhile, business conditions strengthened considerably in May, recording the best reading in the survey’s history.

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