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Australia business sentiment wilts as debt crisis, dollar pinch
Business confidence and conditions dived in the June quarter as the European debt crisis and high Australian dollar cancelled out gains from a series of cuts in interest rates. The latest National Australia Bank quarterly business survey shows that business confidence - measuring expectations for business conditions over the next three months - fell deeper into negative territory. It was down 1 point to minus-two, meaning expectations for business conditions are below pre-financial crisis levels. Business conditions - taking in trading conditions, profitability and employment metrics - also slumped for the June ... (full story)
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