The National Australia Bank (NAB) released its business confidence index for Australia on Tuesday. The index remained unchanged at 3 points in February. January's figure was revised up from 2 points.

"Another above-average outcome for business conditions is a great result in the current global environment. It confirms that low interest rates and a more competitive AUD are clearly having the desired effect," NAB Group Chief Economist Alan Oster said.

The main business conditions index increased to 8 points in February from 5 points in January, while employment rose to 1 points from -1 points.