Mumbai, July 18 -- Australia business conditions weakened to the lowest since late 2023, while confidence showed an upward trend in the second quarter, survey data from NAB showed on Thursday.
The business conditions index declined to 0 index points from 2 in the first quarter. This was the lowest level since the third quarter 2020.
Profitability remained negative at -4 index points, while trading conditions and employment both eased by 2 and 1 point, respectively.
Data showed that the business confidence index rose to -1 in the second quarter from -3 a quarter ago. This was the best reading since late 2022, NAB said.
Leading indicators showed moderate gains in the second quarter. Expected business conditions rose one point, and forward...