08.05.201701:13:00UTC+00Australia Business Confidence Strengthens In April

Business confidence in Australia strengthened notably in April to the highest level in seven years, the latest survey figures from National Australia Bank showed Monday.

The business confidence index rose to 13.0 in April from 6.0 in the previous month. Moreover, this was the highest score since 2010.

Similarly, the business conditions index improved by 2.0 points to 14.0 in April, marking its strongest level since January 2008.

"Business conditions were a bit stronger than expected partly because the level of conditions in Queensland did not deteriorate as much as first thought in the wake of Cyclone Debbie," NAB chief economist, Alan Oster, said.