Business confidence recovered in September, according to the latest National Australia Bank survey, as industry welcomed Malcolm Turnbull’s replacement of Tony Abbott as Prime Minister and global share market upheaval subsided.

NAB said its main business confidence index rose from 1 point in August – its lowest level since mid-2013 – to 5 points in September. The results, from a survey of about 400 companies, suggest business support for Turnbull and relief at the end of leadership uncertainty.

The main business conditions index was flat at 9 points, with trading, profitability, forward orders, stocks and exports all down on their August levels. Employment, however, climbed from negative 1 in August to 4 points in September.