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Australia's business confidence climbed to the highest level in more than two years in May, adding to signs of accelerating economic growth.
The sentiment index rose 2 points to 15 from April, seasonally adjusted, according to a survey of 600 companies released by National Australia Bank in Melbourne yesterday.
Strengthening business confidence prompted National Australia to boost its estimate for 2007 economic growth to 4 per cent from 3 per cent.
Figures last week showed the economy expanded at the fastest pace in three years in the first quarter and the jobless rate fell to a 33-year low, suggesting the central bank may need to increase interest rates.
