Business confidence gets election bounce

Business conditions have continued to deteriorate and now sit below average for the first time in five years, NAB’s latest quarterly companies survey shows, but there has also been a post-election jump in confidence.

The bank’s second quarterly business survey for 2019 reports a 3.0 point decrease in the business conditions index to +1 for the three months to June 30 but business confidence jumped from zero to +6.

NAB Group chief economist Alan Oster says the confidence boost appears to be influenced by the coalition’s federal election win and expectations of a looming interest rate cut.

AAP

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