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Australia Business Confidence Remained Steady In December

Australia's business confidence remained stable in December, despite a sharp fall in conditions, survey data from the National Australia Bank showed on Tuesday.

The business confidence index held steady at +3.

Meanwhile, the business condition index decreased nine points to +2 from +11 in November, marking the largest monthly fall in December since the 2008 global financial crisis.

The decline in business conditions was broad-based across states and industries.

Conditions remained favorable in mining sector, while they were weakest for the retail trade, which was the only industry to record negative conditions in trend terms.

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