The business conditions in Australia rebounded in August, with companies reporting improved sales and profits despite the fact that confidence has declined in the light of political uncertainty after the Australian PM failed in a party vote.
National Bank of Australia (NAB) index of business stand at +15 in August was well above the long-term average of +6 points. The profitability index rose six points to +16 points in August to offset the decline in July, while the index of sales printed +19 points and the employment index held firm at+10 points.
The employment report for August is due on Thursday and unemployment is expected to reach its lowest level in six years at 5.3 percent.
