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Australian Business Conditions Hit Record High

Australian Business Conditions Hit Record High

Australian business conditions rose to a fresh record high in April, according to a monthly survey by National Australia Bank.

The business conditions index was 32 in April, up from 24 points in March.

Business confidence also set a new survey high of 26 index points in April, up from 17 points in March.

The improvement in conditions was driven by gains in each sub-component index, which are all now at their highest level on record.

Trading rose five points to 40, employment was up seven points to 22, and profitability rose eight points to 33.

The improvement suggests the economic recovery is broadening. After lagging, service industries are now also showing strength.

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