India, Feb. 11 -- Australia's business conditions declined in January, while confidence improved with broad-based increases across industries, survey data from NAB showed on Tuesday.
The business conditions index dropped to 3 from 6 in December. Meanwhile, the business confidence index advanced to 4 from -2 in the previous month.
These moves saw confidence and conditions converge in the month, after an extended period of divergence over the past two years, NAB said.
The trading and profitability sub-components of the conditions index deteriorated 3 points and 6 points, respectively. By contrast, employment edged up 1 point.
The capacity utilization rate fell to 82.0 percent from 82.7 percent. Forward orders eased by one point to -3 inde...