Business confidence in Australia eased from 9 to 7 in February, while business conditions dropped sharply from the near 3 year highs, posting a 5 points decline from 5 to 0 in February. According to Alan Oster, Chief Economist at NAB: "Recent recovery short lived? Business conditions back-pedalled sharply in February reversing around half post election gains. Confidence softened but still remains marginally above trend." Oster added: "Sales and employment fell markedly during the month, with the latter pointing to very weak labour market conditions (nearly all post election gains reversed) - and a jobless ... (full story)