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Confidence high in Australia firms

13 November 2015 by News Desk

business02Business conditions in Australia remain favourable and trading confidence is running at a 5-year high.

Five of the eight major industry groups are reporting continued growth with service industries currently outperforming all other sectors. Tourism and healthcare are also showing growth.

Business conditions are currently strongest in Queensland with New South Wales and Victoria running a close second and third, according to the latest National Australia Bank Business Survey.

The NAB business conditions index was unchanged at +8.9 points in October while the five-year average remains at +7.0.

A majority of industries in Australia improved in October, but recreation, personal services and construction have seen an easing in growth and sentiment.

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