Australia financial firms in worst downturn since 2008 crisis

Pedro Gonçalves
Australia financial firms in worst downturn since 2008 crisis

The Australian financial sector is facing its worst downturn since the global financial crisis of 2008, as the scandals revealed during the royal commission hearings are still taking a toll in the industry. The business conditions index  dropped to 2 in December from 11 a month earlier, a NAB report showed . A gauge of employment fell to 4 from 9 in November, while profitability plunged to zero from 8. A separate confidence index was unchanged at 3. The index measures hiring, sales and pro...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?