Business confidence has weakened to its lowest levels since the federal election as sluggish activity weighed on positive sentiment, a monthly private survey...

Business confidence has weakened to its lowest levels since the federal election as sluggish activity weighed on positive sentiment, a monthly private survey has found. Business sentiment was also weakened by the recent elevated levels of the Australian dollar, uncertainty over the global economy and fears of a belt tightening federal government budget in May, the National Australia Bank's business survey showed.The Australian dollar has been rising to new four-month highs against the US dollar, while analysts have warned that a tightening of fiscal policy could hurt the economy's transition away from mining-led growth. Business conditions edged up in March, but remained subdued, as sales fell in the month and employment improved slightly but still pointed to a soft labour market. Read more: (VIEW LINK)