By IANS,
Sydney: Business conditions in Australia improved slightly in November as a result of a boost in mining, retail and services sectors, a survey by National Australia Bank (NAB) showed Tuesday.
The NAB monthly business survey found business conditions index rose to one point in November from zero in October as profitability and employment conditions strengthened.
The survey said rises were seen across all indicators except trade conditions, reflecting economic growth that is largely on trend, reported Xinhua.
The survey also showed business conditions of the mining sector were the strongest, followed by recreation, personal services and transport and utilities, while conditions in manufacturing and construction sectors were the weakest.
Chief economist Alan Oster from the NAB said the survey showed the economy was strong in November despite the uncertainty over the European debt crisis through the month.
“Given that we have seen some slowing in global activity data, especially in Europe, the up tick in conditions in the month is perhaps more favourable than might have been expected,” NAB said.
Business confidence was unchanged, but remained positive at plus two index points, the survey found.