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The level of confidence among Australian businesses has eased slightly, the latest survey shows, but still remains relatively strong.
The National Australia Bank (NAB) business confidence index for the December quarter fell down two index points to nine.
NAB head of Australian economics, Jeff Oughton, said the index was lower, but it was still above average historical levels.
Around one-third of Australian businesses say they expect a minor or significant improvement in industry conditions. Only about 15 per cent expect a minor deterioration and a very small percentage anticipate a significant deterioration, the survey found. NAB said small and medium enterprises, bigger businesses, non-residential construction and parts of manufacturing related to the resources and energy boom were the most optimistic in the near term.
Non-food retailing, residential construction and manufacturing were less optimistic. NAB said this was arguably because of the stronger Australian dollar.
- AAP
