Australian business confidence jumps to seven-year high

28 Oct, 2009

Australian business confidence has shot up to a near seven-year high after the economy's strong performance in the global downturn, a survey said on Tuesday. National Australia Bank's (NAB) quarterly survey showed a 20-point leap to positive 16, the highest level since early 2002, meaning optimists outweigh pessimists by 16 percent. However, capital expenditure plans showed just a six-point rise to positive eight, indicating only lukewarm intentions to invest.

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