SYDNEY (Reuters) - A measure of Australian business conditions jumped in April to highs not seen since 2008 with sales and employment all at levels that bode well for a pickup in economic growth in coming months.
National Australia Bank’s (NAB.AX) monthly survey of more than 400 firms showed its index of business conditions climbed 2 points to +14 in April, well above the long-run average of +5.
The survey’s measure of business confidence, also edged higher to +13 from +6 in March.
NAB chief economist, Alan Oster, said business conditions were a bit stronger than expected partly because the level of conditions in Queensland did not deteriorate as much as first thought in the wake of Cyclone Debbie.
Reporting by Cecile Lefort; Editing by Sam Holmes