Australia NAB Business Conditions & Confidence Improve

(RTTNews) - Australia's business conditions showed signs of stabilization and confidence rose for the third straight month in June, survey data from National Australia Bank showed on Tuesday.

The business conditions index rose to 9 from zero in May. At the same time, the business confidence index posted 5 compared to 2 in the previous month.

"After a volatile but soft year for business confidence, we have seen a trend improvement over the past three months," NAB Head of Australian Economics Gareth Spence said.

Spence said an improvement in confidence is also welcome given the raft of negative headlines globally over recent months.

"While there were large moves in the month, and we know that the monthly survey can be volatile, the hope is at least some of these trends will be sustained over coming months," added Spence.