NAB's monthly report of business confidence has revealed Tasmania's business confidence continues to grow, despite downward trends in other states and territories.
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.