Business Confidence is Up! A Great Time to Buy a Business

The National Australia Bank released a report yesterday showing that the business confidence index has risen 2 places in Australia over the past month, from 5 to 7. This result appear to have been boosted by rises in profitability (up 2 points to 17) and sales (up 1 point, to 19). Business conditions are now reported to be at their highest since early 2008. Alan Oster, NAB’s Chief Economist said “The construction industry is currently leading the way with the highest business conditions, although most industries are following close behind.” ABC News also reported him as saying: “Business conditions at these levels tell us that the business sector in Australia is doing very well.”