Australia: Business confidence turns more negative in November
The business confidence index produced by National Australia Bank (NAB) dropped to minus 4.4 in October from minus 0.2 in October. Consequently, the index moved further the zero-point threshold that signals Australian businesses were mostly pessimistic regarding economic conditions going forward.
Deteriorated sentiment in the finance, business and property sectors was chiefly behind the weaker reading.
Meanwhile, business conditions weakened in November.