Australia business activity and confidence hit hard by Covid-19 lockdown

Yesterday’s survey from National Australia Bank (NAB) showed its index of business conditions sank 14 points to 11 in June, though that was still above the long term average thanks to record high results ahead of a lockdowns.

SYDNEY: A measure of Australian business conditions worsened sharply for a second month in July as the coronavirus lockdown took a heavy toll on service industries and confidence in general.

Yesterday’s survey from National Australia Bank (NAB) showed its index of business conditions sank 14 points to +11 in June, though that was still above the long term average thanks to record high results ahead of a lockdowns.