Business conditions in Australia improved marginally in May, while confidence remained unchanged, the latest survey by National Australia Bank, or NAB, showed Tuesday.
The business conditions index rose to -4 in May from -6 in April. The business confidence index remained at -1.
The indexes, however, suggested that both business conditions and confidence stayed at low levels.
The survey report found that business conditions improved in wholesale, manufacturing and construction, but worsened in mining were capital spending was at record low.
NAB expects near-term demand to remain weak with forward orders, capacity utilization and employment conditions staying well below their average levels.
Any confidence gained from falling dollar and May rate cut by the Reserve Bank of Australia have been undermined by domestic weakness, the report said.
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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.