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Australia: Business Confidence declines sharply in May - NAB

By FXstreet.com,  June 11, 2012, 09:39:00 PM EDT

FXstreet.com (San Francisco) - The National Australia Bank Business Confidence survey reflected deteriorating business conditions in Australia in May, falling 4 points to stand at -4, while the index of confidence dropped 6 points to -2, the weakest in three years with mining and construction sectors down sharply.

"Business conditions fell heavily in May, following declines in activity in April," reports NAB. "The deterioration in activity was broad based across industries and across trading, profits and especially employment." The bank says that businesses appear to have been concerned about euro-zone and global growth issues.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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