Powered by MOMENTUM MEDIA
subscribe to our newsletter
Fall in business confidence continues

Fall in business confidence continues

Business confidence has declined for a third consecutive month, but it remains above the level prior to Malcolm Turnbull’s appointment as prime minister.

According to data gathered by Roy Morgan Research, business confidence was down 3.4 per cent to 110.6 index points in January, following the December decline of 3.5 per cent and the November drop of 0.5 per cent.

Roy Morgan said the combined drop of 7.3 per cent over the last three months is an indication that the initial increase in confidence following Mr Turnbull’s appointment as prime minister has been outweighed by the negative local and international environments.

Advertisement
Advertisement

“It is not surprising that business confidence has declined further in January, given the negative market sentiment both locally and globally during the month,” Roy Morgan’s industry communications director, Norman Morris, said.

“The continual publicity given to the slowdown in Chinese growth, the dramatic drops in the price of oil and other commodities and the deteriorating budgetary position at home have all impacted negatively on the ASX and business sentiment.

“With business confidence declining, it remains a challenge for both the state and federal governments to create a positive environment and plan that will encourage business growth against what is likely to remain a volatile international economic environment.”

However, the group noted that despite the negative trend in business confidence over the last three months, it is still 7.8 per cent above the level prior to Mr Turnbull’s appointment.

[Related: Financial services salaries to be ‘restricted’]

Fall in business confidence continues
mortgagebusiness

 

Latest News

Westpac and the Commonwealth Bank’s share of the third-party mortgage market has spiked, in contrast to sharp declines from NAB and ANZ, t...

A non-major lender has dropped its fixed mortgage rates, becoming the fourth lender to reprice its offerings over the past two weeks.   ...

The interest lenders earn on mortgages is expected to remain under pressure this year and next, according to Moody’s. ...

FROM THE WEB
podcast

LATEST PODCAST: The Third-Party Lending Report in summary

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?