Powered by MOMENTUM MEDIA
subscribe to our newsletter

Business confidence continues upward trend

New figures show that business confidence continues to rise and now sits above its five-year average.

According to a report by Roy Morgan Research, business confidence rose by 6.4 per cent last month to 123.1 index points, and has now risen 12.5 points over the last three months – overtaking its five-year average of 116.8 points.

Norman Morris, industry communications director at Roy Morgan Research, said business confidence was now the highest it has been since January 2014 (131.5 points).

The report noted that the incline was driven by increased confidence about businesses being better off financially in Australia than a year ago – up 4.8 percentage points to 41.1 per cent – while only 27.5 per cent believed they were worse off (down by 1.3 percentage points).

Furthermore, 50.6 per cent of businesses said they would be better off financially next year (up 9.6 percentage points), with only 12.5 per cent believing their business would be worse off (down 5.6 percentage points).

Advertisement
Advertisement

PROMOTED CONTENT


Confidence in investment for business growth in the next year also rose, with only 29.3 per cent of businesses believing that the next 12 months would be a bad time to invest in growth (down 7.8 percentage points).

Roy Morgan Research said business confidence was bolstered by an improvement in the Australian share market and certainty about when the federal election would be held.

[Related: FHBs continue to lose confidence]

Business confidence continues upward trend
mortgagebusiness

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Early bird tickets are on sale now. Work smarter, not harder, this year.

Latest News

Several lenders, including the major banks, have announced relief measures for Victorian borrowers impacted by the floods. ...

The major bank has forecast an RBA tightening in two steps in H2 2023 to take the official cash rate to 0.5 per cent by the end of 2023. ...

Housing-related consumer sentiment has plummeted by 27 per cent since November 2020, and is in pessimistic territory for the first time sinc...

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.