Australia business conditions show promising improvement in August-survey

 Australia business conditions show promising improvement in August-survey

A man wearing a protective face mask walks past a usually busy market in the city centre during a lockdown to curb the spread of a coronavirus disease (COVID-19) outbreak in Sydney, Australia, August 31, 2021. REUTERS/Loren Elliott/File Photo

SYDNEY, Sept 14 (Reuters) – A measure of Australian business conditions showed a welcome improvement in August as sales and profits weather coronavirus lockdowns in parts of the country, offering hope of a speedy recovery once restrictions ease.

Tuesday’s survey from National Australia Bank (NAB.AX) showed its index of business conditions rose 4 points to +14 in August, recovering part of July’s sharp 14-point drop.

The survey’s measure of confidence edged up 2 points to -5, after diving in July as lockdowns spread from Sydney to Melbourne and Canberra.

Importantly, the conditions index remained well above the long-run average and businesses were faring much better than during the first round of…

Read full article…www.reuters.com