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Australia's Business Confidence Weakens In August

Australia's business confidence weakened in August, while business conditions improved from last month, data from the National Australia Bank showed Tuesday.

The business confidence index fell to +4, the lowest since August 2016, from +7 in July. Meanwhile, the business conditions index rose around 2 points to 15 in August.

The stabilization of the forward looking indicators provides some comfort that while business conditions have eased from the levels seen in early 2018, the outlook remains positive, NAB chief economist Alan Oster, said.

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