Australian business confidence has outstripped real-world conditions all year, and the gap is widening.
According to NAB’s quarterly business survey data, released today, confidence reached a two-year high in the September quarter, driven by the federal election, the lower AUD and interest rates, and stronger asset markets.
Meanwhile, conditions fell to the weakest level in four years thanks to weaker employment conditions and profitability and weak demand.
From the report:
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