Australia NAB Business Confidence dropped from 20 to 11 in June. Business Conditions dropped from 36 to 24. Trading conditions dropped from 45 to 35. Profitability conditions dropped from 39 to 25. Employment conditions dropped from 25 to 17.
“After reaching a record high last month, business conditions pulled back in the month. The decline in conditions was broad-based across states but led by a significant decline in Victoria coming off the back of the lockdown that started in late May but was eased, in a series of steps, over June” said NAB.
“Confidence took a hit in the month with the survey undertaken in the week of the NSW lockdown and with some overlap to brief shutdowns in the smaller capitals. The threat of closing borders also appears to have weighed everywhere”.