Business conditions highest since last year
(13 April 2011 – Australia) The National Bank (NAB) Business Survey for March showed business conditions rose 11 points to plus nine index points, moving above the zero level that separates expansion from contraction.
These business conditions suggest the Australian economy has showed signs of recovery following the impact of the Queensland floods.
In a statement released with the survey NAB said the overall business conditions index was now at its highest level since March 2010.
The bank also said business national confidence declined in March but stayed in positive territory and remained above trend.
The business confidence index fell five points, to plus nine points in March.
NAB expected the Australian economy to have stalled in the March quarter because of the January floods and Cyclone Yasi.
In a statement released with the survey NAB said the overall business conditions index was now at its highest level since March 2010.
The bank also said business national confidence declined in March but stayed in positive territory and remained above trend.
The business confidence index fell five points, to plus nine points in March.
NAB expected the Australian economy to have stalled in the March quarter because of the January floods and Cyclone Yasi.
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