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Australian business conditions soar, consumer confidence falls

Staff Writer |
Although business conditions for the month of August have reached their highest level in Australia for nine years, consumer confidence has taken a dive.

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Unenthusiastic buyers are the most pessimistic they've been in two years.

Business Conditions rose 1 point in August, to hit plus 15 index points, in National Australia Bank's Monthly Business Conditions and Confidence Survey released on Tuesday.

With "most industries thriving," the atmosphere for business is the best it's been since early 2008 in Australia.

In contrast, ANZ-Roy Morgan Consumer Confidence Index showed soft wage growth, higher electricity and energy prices are weighing heavily on consumer sentiment.

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