Australia's business confidence improved in the third quarter, survey data from the National Australia Bank showed Thursday.
The business confidence index rose to 5.0 in the third quarter from 3.0 in the second quarter. In the first quarter, the score was 4.0.
At the same time, the business conditions worsened in the three months ended September, with the index falling to 7.0 from 11.0 in the previous quarter.
However, forward orders gained in the third quarter. The employment index rose to 3.0 from 2.0 in the second quarter.
"The outlook for business activity in this Survey should make the RBA reasonably comfortable, but the inflation picture is less encouraging," NAB Group Chief Economist, Alan Oster, said.
"However, in light of recent housing market trends, on balance we think a rate cut this year is unlikely, barring an extremely weak Q3 CPI outcome".
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