‘As good as we’ve had it’: Business conditions and confidence at surprising record high
New business data reveals Australia’s business conditions and confidence are “stunning”.
NAB’s April Business Survey found business conditions and confidence were at the highest levels since data began being collected in 1996.
Business confidence rose to a record high of +32 index points, and business confidence also reached its highest level ever at +26 index points.
Chief economist with the NAB, Alan Oster, says the figures are “as good as we’ve had it”.
“Business is confident,” he told Neil Mitchell.
But Mr Oster said there are areas of the economy that are “patchy”, with the effects of the pandemic not felt equally across sectors.
“There are some sectors that … have basically given up,” he said.
“It’s not wonderful but it has come back a lot quicker than everybody thought.”
Press PLAY below to hear Mr Oster explain of the surprising result