Australia’s business confidence rebounds in May amid dovish RBA

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Updated: 11 June 2019
  • The business conditions index is reported by the National Australia Bank (NAB).

Australia’s business conditions index surged to +7 in May, up from zero in April, following the surprise re-election of the centre-right coalition Government and amid indications of easing by the country’s Central Bank. While the spike in business conditions led to a rally in Australian stocks on Tuesday, with the ASX 200 surging more than 1.5 per cent, Australia’s economy continues to falter with the economy growing at the weakest annual pace in a decade in the first quarter.