DEFINITION of 'NAB Business Confidence Index'
A key measure of business confidence in Australia, published monthly and quarterly by National Australia Bank. The NAB Business Confidence Index is a component of the bank's business survey, which covers hundreds of Australian companies to assess business conditions in the nation. The index is closely watched to gauge the overall condition of the Australian economy.
BREAKING DOWN 'NAB Business Confidence Index'
The NAB Business Confidence Index is a lagging indicator of the Australian economy. The NAB also analyzes business confidence across the country's regions and industrial sectors. National Australia Bank is one of Australia's leading financial services organizations, with approximately 11 million customers and 39,000 employees.