Business confidence has fallen back towards its pre-election levels as optimism fades and conditions remain weak, a monthly private survey has found. Firms were less positive in October after a surge of sentiment in September, as soft forward indicators pointed to a tepid outlook for domestic demand, the National Australia Bank's business survey on confidence and conditions found. "Forward indicators do not paint a favourable picture for the outlook, with capacity utilisation falling to a four-year low and the level of forward orders, capex and stocks also declining," NAB chief economist Alan Oster said in a ... (full story)