Australia's business conditions improved modestly in March, along with a jump in confidence, a survey by the National Australia Bank (NAB) showed Tuesday.
The business conditions index rose to 4 in March from 3 in February. The business confidence index advanced to 3 from 1 in the previous month.
Despite the improvement in confidence levels, the degree of caution still seems to be inhibiting hiring and investment decisions, NAB said.
Positive data out of the US, which helped push the Australian dollar lower, and reduced Euro banking concerns probably aided sentiment, the report said.
According to NAB, though the economy may gather momentum gradually, the current soft patch will see a slight deterioration in near-term unemployment prospects.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.