Australia's Business Confidence Remains Unchanged: NAB

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Australia's business sentiment remained unchanged in the first quarter, survey data from the National Australia Bank showed Thursday.

The business confidence index held steady at +7 in the first quarter. Meanwhile, the business conditions index gained 2 points to +17, the highest since 2007.

"Business conditions reached a new post-GFC high in this Quarter's survey and while the monthly survey indicates conditions eased late in the quarter, the bottom line is that they remain strong reflecting robust trading conditions, profitability and employment growth," Alan Oster, NAB group chief economist, said.

Moreover, the strength in business conditions was broad based across industries, with conditions positive and also at, or above, their long-run average in all industries, Oster added.