Australia Consumer, Corporate Mood Darkens as Job Concerns Mount
- Business confidence slips 5 points, with employment big mover
- Consumer sentiment falls, also on worries about job outlook
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Australian consumers turned gloomy and business confidence sank in a combination that highlighted increasing concern about the job market as the economy labors under elevated interest rates.
A National Australia Bank Ltd. survey showed Tuesday that business confidence fell 5 points to -4 in August while conditions, which measure jobs, sales and profitability, slid 3 points. The employment subcomponent was the main mover, falling 6 points.