A measure of Australian business conditions showed a broad-based improvement in activity and confidence in May as follows:
- Australia may business conditions index rises to -24 vs -34 in April
- Australia may business confidence index rises to -20 vs -45 in April.
Description of NAB´s Business Conditions and Confidence
The NAB´s Business Conditions released by the National Australia Bank looks at trading, profitability and employment conditions in Australia. It serves as an indicator of overall economic situation in the short term. A high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).
The National Australia Bank Business Confidence is a survey of the current business condition in Australia. It indicates the performance of the overall Australian economy in a short-term view. A positive economic growth anticipates bullish movements for the AUD, whereas a negative growth is seen as bearish.