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Australia Business Optimism Pulls Back From Post-Lockdown Highs

  • Confidence remains ‘well above’ long-run average, NAB says
  • Economy well placed to carry its momentum forward into 2022
General Views In Sydney As Slow Vaccine Rollout Could Keep Australia Isolated Into 2022
Photographer: Lisa Maree Williams/Bloomberg
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Australian business confidence pulled back from the very high levels of the immediate post-lockdown period, even as forward indicators continued to point to strong momentum in the highly-vaccinated economy.

Business confidence dropped to 12 points in November from a downwardly revised 20 in the prior month to remain “well above” its long-run average, National Australia Bank Ltd. said in a statement Tuesday. The conditions index -- measuring hiring, sales and profits -- advanced to 12 points from 10.