Australian business confidence rose to a two-year high as global activity saw demand for Australian-made goods unexpectedly jump. Indeed a National Australian Bank survey of business confidence rose to an index level of 10 from a level of 4 in July. Marked by an impressive June, which saw the trade deficit shrink on a 1.5% gain in exports, businesses may be feeling a bit more optimistic about their future state. Reserve Bank of Australia seems to be sharing some of the sentiment. At their latest meeting on July 04, the bank stated that “economic conditions in Australia have to date not been as weak as expected a few months ago.” Indeed, they also revised their growth estimate significantly upward by 0.5% after initially expecting the economy to contract by 1.0%.