Business confidence seems to be taking a bit of a hit at the moment. The NAB Qtly index of Business Confidence dropped 14 points to 3 points in June. It's still above '0' though which indicates some optimism remains.
In discussing the results NAB Chief Economist said:
"Confidence had been relatively euphoric since the middle of last year, but the June quarter saw it retreat to more temperate levels.
"The monthly surveys suggest that businesses became much less optimistic in May, as Euro-centric financial market troubles sparked reductions in equity and commodity markets and were associated with a sharp decline in the Australian dollar.
