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Macro EconomyMediumUpdated•Originally published 13 October 2026•Updated 13 October 2026•
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Australia NAB Business Confidence Sinks to -13 in September Amid High Rates

Key Facts

1Australia’s NAB Business Confidence Index fell from -9 to -13 in September, marking its third consecutive monthly decline.
2Confidence is now 18 points below its long-run average and ranks among the weakest 5% of readings in the survey’s history.

Australia’s NAB Business Confidence Index fell from -9 to -13 in September, marking its third consecutive monthly decline. ActionForex reported that the current reading is 18 points below its long-run average, ranking among the weakest 5% of results in the survey’s history.

The deterioration in sentiment reflects the cumulative impact of restrictive monetary policy from the Reserve Bank of Australia (RBA), rising operational costs, and global economic uncertainty. While business conditions remained unchanged at -1, the employment component dropped 3 points to its lowest level in five years according to National Australia Bank (NAB) data.

Latest Updates · 1

  1. Notable·

    Update: NAB identified oil price volatility stemming from strikes on Saudi facilities as a contributing factor to the current pressure. The bank also noted that the Reserve Bank of Australia (RBA) raising the cash rate to 4.60% acted as a primary driver behind the decline in business sentiment for September 2026.