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The National Australia Bank (NAB) released its Quarterly Business Confidence Survey on Thursday. The NAB business confidence index declined to 0 in the third quarter from 4 in the second quarter.
But leading indicators were positive in the third quarter, while forward orders rose to their highest level since late 2009.
"Lower interest rates and AUD depreciation appear to be having the desired effects, although this varies by industry," the NAB said in its statement.
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