Australia business confidence drops for first time in six years
Australian business conditions turned negative in August for the first time in six years. Business confidence fell 2 points to minus-8 points and stayed well below its long-run average amid concerns over global shocks and falling profits.
Australian business conditions in August turned negative for the first time in six years as firms cited ongoing global shocks and falling profits. Business confidence fell 2 points to minus-8 points in August and remained well below its long-run average, according to the source.