Business confidence in Australia weakened further in May, the latest survey from National Australia Bank showed on Tuesday.
The NAB business confidence index dropped to 3.0 in May from 5.0 in the previous month. In March, the score was 6.0.
At the same time, the index measuring current business conditions held steady at 10.0 in May.
Similarly, the forward orders index also remained unchanged at 2.0 in May. Moreover, which was more consistent with business conditions and suggests good near-term prospects for activity.
Despite higher trading conditions, the employment index eased to 1.0 in May from 4.0 a month ago.
"The RBA's cut to interest rates did not help lift business confidence as we had hoped, even as sales activity continues to improve," NAB Group Chief Economist Alan Oster, said.
"Uncertainty around the upcoming election might be a factor here, but mixed results across industries suggest that other factors are at play".
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.