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Australia's Business Confidence Rises In September: NAB

Australia's business confidence improved in September from last month, survey data from the National Australia Bank showed Tuesday.

The business confidence index rose to 6 in September from a revised reading of 5 in August. The August's figure was upwardly revised from 4 points estimated earlier.

The business conditions index appeared to have stabilized, increasing slightly to 15 from a downwardly revised score of 14 last month.

While conditions remain broadly favorable across industries, the retail industry remained weakest driven by subdued outlook for the consumer and ongoing structural changes in the sector.

The survey pointed that despite favorable business conditions, higher employment and relatively high levels of capacity utilization, the economy-wide inflationary pressures remain weak.

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