The National Australia Bank (NAB) released its business confidence index for Australia on Monday. The index fell to 5 points in April from 6 points in March.

"Even though business conditions eased this month, they have remained well above average levels for the past year. With consistently good results like these from our survey it is difficult not to have a degree of confidence in the near-term outlook," NAB Group Chief Economist Alan Oster said.

The main business conditions index decreased to 9 points in April from 12 points in March, while employment remained uncaged at 4 points.