Arab Today, arab today no real momentum for australian economy
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

No real momentum for Australian economy

Arab Today, arab today

Arab Today, arab today No real momentum for Australian economy

Business conditions in Australia
Sydney - XINHUA

Business conditions in Australia were lower for the second month in a row in December while confidence edged slightly higher, according to National Australia Bank's (NAB) monthly business survey, released on Tuesday.
NAB said business conditions fell by 1 point in December to 4 index points and the survey "again shows a patchwork economy with little-to-no momentum building."
A downward trend in construction and mining industries was evident and the bank is now forecasting unemployment to peak at 6. 6 percent in the last quarter of 2015, up from the current official rate of 6.2 percent.
Business confidence improved slightly, but was still below long- run average, as falls in commodity prices magnify declines in confidence in the mining industry.

 

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