Improved sentiment: A customer safety sign is displayed at a shopping arcade in Sydney. Business confidence has turned positive after rebounding sharply from record lows over the past three months. — Bloomberg
SYDNEY: A measure of Australian business conditions showed a sharp recovery in activity and confidence in June as much of the economy reopened from coronavirus lockdowns, though a fresh outbreak in Melbourne threatens to darken the mood once more.
National Australia Bank’s index of business conditions bounced to -7 in June, from -24 in May and -34 in April. That was a lot nearer to the long-run average of +6 and away from lows seen during the global financial crisis.
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