Business confidence gets election bounce

Business conditions┬áhave 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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