Australian NAB Business Confidence Plunges to -29 as Middle East Shock Hits - ActionForex

Business confidence smashed by Middle East conflict, data shows

Australian business confidence has taken a dive since the start of the Middle East conflict, with data showing that its decline is outpacing the conflict’s real-world impact. The National Australia Bank (NAB) business confidence survey – with more than a quarter-century of findings – found a 29-point decline in business confidence across March, its second-largest drop on record. NAB said it is a similar decline to that of the Covid pandemic and …

Australian NAB Business Confidence Plunges to -29 as Middle East Shock Hits - ActionForex

Australian business confidence has collapsed at a pace only seen during the GFC and COVID, highlighting the immediate impact of Middle East tensions on sentiment. NAB Business Confidence plunged from 0 to -29 in March, marking the second-largest monthly decline in the survey’s history. As NAB’s Gareth Spence noted, declines of this magnitude have “previously […] The post Australian NAB Business Confidence Plunges to -29 as Middle East Shock Hits…