Australia's business confidence weakened in the second quarter, survey data from the National Australia Bank showed Thursday.
The business confidence index fell to 2 in the second quarter from 4 points a quarter ago.
Nonetheless, the NAB said firms are continuing to suggest quite strong investment intentions for the next 12 months, consistent with the steady rise in capacity utilization rates, while near-term employment intentions improved and longer-term employment intentions remained relatively solid.
The business conditions index rose slightly to 11 from 10 in the first quarter, largely supported by very high trading conditions and profits.
NAB Group Chief Economist Alan Oster, said "firms were still reporting business conditions consistent with an ongoing recovery in the non-mining sector".
"The Monthly NAB Business Survey actually suggested business confidence lifted towards the end of the quarter," Oster added.
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