Australian business confident
Source: Agencies |
August 12, 2009, Wednesday
|
Print Edition
Print Edition
AUSTRALIAN business confidence hit its highest level in almost two years in July, suggesting an economic recovery is gathering momentum, a survey showed yesterday.
The confidence index in National Australia Bank's monthly survey of more than 400 businesses rose six index points to 10 in July.
"The improvement was very broadly based but especially noticeable in construction, wholesaling, transport and manufacturing over recent months," the bank said.
The index has bounced back from minus 30 points in early 2009. July's confidence reading was the highest since August 2007, with the measure "now approaching long run average levels."
The confidence index in National Australia Bank's monthly survey of more than 400 businesses rose six index points to 10 in July.
"The improvement was very broadly based but especially noticeable in construction, wholesaling, transport and manufacturing over recent months," the bank said.
The index has bounced back from minus 30 points in early 2009. July's confidence reading was the highest since August 2007, with the measure "now approaching long run average levels."
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