Business confidence has risen sharply following financial crisis lows of the month before, but business conditions remain soft and forward indicators of demand are weak, the National Australia Bank’s monthly business survey shows. The temporary aversion of the US ‘‘fiscal cliff’’ and more positive data about the Chinese data, coupled with the Reserve Bank’s 25 basis points interest rate cut last month, saw NAB’s monthly business confidence index lift to 3 in December, from minus 9 the month before. The monthly business condition index improved from minus 6 in November to minus 4 in December, as conditions remained ... (full story)