A new survey from one the country’s major banks has revealed a stronger economy is providing businesses with a much-needed confidence boost.
Businesses are optimistic about Australia’s recovery from the coronavirus pandemic, with confidence surging across a broad range of sectors. The latest quarterly business survey from NAB Economics shows confidence and conditions across the economy have bounced back from the initial slump caused by the 2020 COVID-induced lockdown.
NAB’s confidence index jumped 22 points to a position of 14, while conditions rose 14 points to an index position of 9 points.
The bank’s chief economist Alan Oster said the positive outlook was spurred on by the easing of severe lockdowns that engulfed the country last year, particularly the nation’s second largest state economy, Victoria.