SYDNEY: Australian business conditions were broadly unchanged in September, though confidence slipped further amid a surge in oil prices driven by renewed tensions in the Middle East, raising concerns over higher costs, a survey showed on Tuesday.
The survey from National Australia Bank showed its index of business conditions was flat at -1 in September. However, the ongoing decline in confidence suggests that conditions will likely deteriorate further, the survey said.
Confidence fell 4 points to -13, well below the level recorded in February, before the US-Israeli conflict with Iran began.
"Energy prices remain elevated, funding costs have risen and domestic growth has slowed in 2026," NAB said.
