NAB business confidence in Australia came in at 3 in September compared with a 4 in August. On the other hand, the NAB business conditions came in at 14 in September from a previous 18. However, confidence among manufacturers declined for the first time in five months as rising Australian dollar value is threatening corporate profits in addition to making Australian products less competitive.

This came after the Reserve Bank of Australia decided to raise interest rates by 25 basis points to reach 3.25% after it was kept for six months at 3.00% the lowest record in 49 year, worth mentioning that the Australia economy expanded 0.6% in the second quarter of this year backed by improving consumer spending and recovering exports.