NAB's monthly report of business confidence has revealed Tasmania's business confidence continues to grow, despite downward trends in other states and territories.
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At 8.5 points on NAB's scale, Tasmania's confidence was the highest in the country in December. This is an increase from 7 in November 2019.
Business conditions in Tasmania have also lept in front of NSW for the best in the country at 8 points.
States such as Western Australia and Queensland continue to improve, however NSW and Victoria have both experienced drops in both confidence and conditions.
In other news:
Nationally, conditions rose slightly, however confidence dropped from 1 point to 0.
Overall, retail continues to be Australia's Achilles heel, with the sector's conditions remaining low at -15 points.
Confidence in retail nationwide, however, rose from 0 to 5 points. Service industries continue to be the best performing sectors across the country.