Australia - Recovery in Business Confidence

July 20, 2009

Business conditions have recovered to levels not seen since the global financial and economic crisis hit last September, as a record increase in employment expectations added to evidence that companies are trying to hold on to staff.

Businesses surveyed by National Australia Bank in June reported a substantial improvement in orders, profits and export sales, as the effects of lower interest rates and the federal government's stimulus measures fed through the economy, boosting confidence and improving the outlook for jobs.