World Economy

Australia BCI at 2-Year High

Australia BCI at 2-Year HighAustralia BCI at 2-Year High

Australia’s business confidence index has jumped to a near two-year high but is likely to be dented by China’s financial turmoil, Yahoo reported. National Australia Bank’s confidence barometer rose two points in June to 10 points–its highest level since September 2013. All industries outside of mining are showing signs of optimism, NAB economist James Glenn said, due to low interest rates, a falling Australian dollar and the federal government’s business-friendly budget. But NAB’s monthly business survey was conducted before the culmination of Greece’s debt crisis, and the recent turmoil on China’s mainland share market.