Australian Business Confidence Stays Weak Amid Rising Costs
Australian business confidence stayed low in April as energy costs hit margins. NAB reports that conditions fell to the second-lowest level since 2020.
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Australia business confidence improved marginally to -24 in April as energy costs squeezed profit margins, according to a National Australia Bank survey. The reading follows a 29-point collapse to -29 in March, the second-largest monthly fall in the survey's history. Business conditions weakened across forward orders, capital expenditure, and employment, all sitting below long-run averages.
