Mumbai, Aug. 12 -- A measure of Australian business confidence rose to a three-year high in July thanks to strength in services and construction, a survey showed on Tuesday, though rising costs also put upward pressure on retail prices.
The survey from National Australia Bank showed its index of business confidence climbed to +7 in July, from +5 in June, the highest reading since August 2022. Its measure of business conditions eased to a still solid +5 in July, after jumping to +7 the previous month.
Confidence could have been supported by expectations for lower borrowing costs, with the Reserve Bank of Australia widely expected to cut interest rates to a two-year low of 3.60 per cent on Tuesday.
The survey's measure of business sales di...