Morningstar

Australian Business Confidence Rises Strongly as War Fears Ease

Provided by Dow Jones

By James Glynn 




  SYDNEY--Australian business confidence bounced strongly in June as geopolitical tensions in the Middle east showed signs of easing, with world oil prices falling sharply as a result. 



  Business confidence rose 9 points in June from May to a reading of -5 points, according to a monthly survey of firms by National Australia Bank. Meanwhile, business conditions were flat at +3 points. 



  But the business sector remains downbeat overall against the backdrop of sluggish economic growth, elevated inflation and the threat of further interest Rate increases by the Reserve Bank of Australia in coming months, the survey showed. 



  Still, the data suggests that the economic backdrop for the Reserve Bank of Australia has shifted, with the magnitude of the cost shock stemming from the Middle East conflict not as severe as previously expected, said Michael Hayes, an economist at NAB. 



  Confidence remained negative in all industries, with the signs of recovery driven by gains in retail and manufacturing, the areas of the economy which were the least confident in May, the data showed. 





  Write to James Glynn at james.glynn@wsj.com 





  (END) Dow Jones Newswires



  July 13, 2026 22:20 ET (02:20 GMT)


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