NAB’s monthly buisness survay for November has shown the lowest buisness confidence level ever, in the survay’s life of 20 years, reaching minus-30 points. NAB’s survay of October shows a 21 index point drop. There is no reason for confidence to be lower now than the 1990 recession, but results have proven that it is.

Buisness conditions have dropped 6 points to minus-17 points, the lowest since 1992. NAB is predicting Australian GDP growth to slow to 0.5% in 2009.

Have your say: Why do you think the buisness confidence is weaker now than in the 1990 recession?