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Australia business activity at decade-high in April: NAB
May 8, 2017 / 2:15 AM / 5 months ago

Australia business activity at decade-high in April: NAB

SYDNEY (Reuters) - A measure of Australian business conditions jumped in April to highs not seen since 2008 with sales and employment all at levels that bode well for a pickup in economic growth in coming months.

National Australia Bank’s (NAB.AX) monthly survey of more than 400 firms showed its index of business conditions climbed 2 points to +14 in April, well above the long-run average of +5.

The survey’s measure of business confidence, also edged higher to +13 from +6 in March.

NAB chief economist, Alan Oster, said business conditions were a bit stronger than expected partly because the level of conditions in Queensland did not deteriorate as much as first thought in the wake of Cyclone Debbie.

Reporting by Cecile Lefort; Editing by Sam Holmes

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