Australia business confidence up even as activity weakens: survey

Australian businesses reported the weakest activity levels in four years in March as sales and employment slipped, yet the same survey showed firms grew more optimistic on the outlook at least in sectors sensitive to lower interest rates.

The survey of over 400 firms by National Australia Bank found the high local dollar was keeping manufacturers deep in the doldrums. Retailers also complained of poor activity in March, even as official data showed sales in the first two months of the year were the strongest in at least a decade.

via Business feed http://www.scmp.com/business/economy/article/1210593/australia-business-confidence-even-activity-weakens-survey