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

The embattled wealth giant has confirmed that its statutory net profit fell by $820 million in 2018, due to costs associated with the royal ...

The non-major bank’s net profit after tax has dropped by 4.7 per cent, coinciding with weaker home lending performance. ...

Regulatory sandboxes may not be the answer for regulating cross-border fintechs, a new report has suggested. ...

FROM THE WEB

POST RC PANEL DISCUSSION ADDED

podcast

LATEST PODCAST: The aftermath of the final royal commission report

Is enough being done to ensure responsible lending?