Economic Buzz: Australian business confidence stays weak as energy costs rise

Business confidence in Australia remained deeply negative in April as rising energy costs linked to the Middle East conflict continued to pressure companies and investment plans.

A survey by National Australia Bank showed its business confidence index improved slightly to -24 in April from -29 in March. However, sentiment remained near historic lows after March recorded the second-largest monthly drop on record.

The bank?s measure of business conditions also weakened, falling 3 points to +3. This was the second-lowest level since 2020 and marked the fourth consecutive month of decline.

Higher operating costs, especially for energy, continued to squeeze profit margins and weigh on business activity across the country.

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