A measure of Australian business conditions showed a broad-based improvement in activity and confidence in May as follows: • Australia may business conditions index rises to -24 vs -34 in April • Australia may business confidence index rises to -20 vs -45 in April. National Australia Bank's index of business conditions bounced to -24 in May from -34 in April. That was still far below the long-run average of +6 and similar to depths seen during the global financial crisis, Reuters reports. Key notes • The survey's measure of business confidence picked up to -20 from -46 in April, but again remains below the long-run ... (full story)