A measure of Australian business confidence has rallied for the first time since November 2007, in another sign the economy there is turning a corner.
The Sensis Business Index has posted its biggest quarterly increase since 1993, as the number of businesses optimistic about the future grew.
The index's author, Christena Singh, says the rise in confidence coincides with businesses reporting the first rise in sales growth in nearly two years.
She says it adds to evidence that people are confident the worst has passed.
"People certainly are not looking at this through rose coloured glasses, people have very realistic views that it is still difficult economic conditions, Ms Singh said.
"But I think what this quarter tells us is that people think that maybe we're turning the corner and starting to move in the right direction."
But she says even though all measures of business conditions improved, the commercial sector across the Tasman still faces a tough road ahead.
"Those are coming off record lows, so there's still a long way to go and most of those indicators are still net negative," she said.
"But it is certainly a very positive sign that we're seeing such a strong rebound in confidence and rebound in performance this quarter."
- RADIO AUSTRALIA
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