Business confidence falls on weakness

Business confidence retreated in June following a post-election spike the previous month while overall conditions remain weak, according to a survey of Australian companies.

The National Australia Bank’s index of business conditions, a monthly survey of about 550 companies, rose 2.0 points to +3 while its index of confidence fell 5.0 points to +2.

NAB’s analysis, which last month stated the country’s retail sector was “clearly in recession”, said the index suggested business conditions were unlikely to improve significantly in coming months.

AAP

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