More Businesses Lose Confidence in Australia’s Economic Prospects

[Epoch-Times-Bot]

More Businesses Lose Confidence in Australia's Economic Prospects

Australian business sentiment has turned negative for the first time in the past 12 months as more enterprises feel uncertain about the country’s economic outlook.
According to the latest National Australia Bank (NAB) business survey, the business confidence index dipped from zero to minus four index points in November.
While negative sentiment was reported in many industries, manufacturing, construction, and retail led the downward trend with ten points falls.
At the same time, all states and territories except South Australia and Tasmania saw a decline in business confidence.
The November drop suggests that the ongoing interest rate hikes implemented by the Reserve Bank and the slowing global economy have caused more businesses to hold a pessimistic view of Australia’s economic health....

Source: More Businesses Lose Confidence in Australia's Economic Prospects

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