June Business Confidence Down 2.3%
Latest research from Roy Morgan reveals Australian business confidence fell 2.3% [to 114.4] in June – despite the decline, figures remain 2.6pts higher than a year ago.
Business ‘worries’ have continued to mount, with 22.4% of local businesses claiming they’ll be ‘worse off financially’ this time next year.
Those who predict the next 12 months is a ‘good time to invest’ in business growth has also dropped to a record low of 46.5% (6.5ppts decline).
Overall, just over 50% of local businesses remain ‘largely confident’ about the economy’s future prospects.
54.2% of local businesses forecast ‘good times’ for the economy in the next year, whilst 50.3% expect the same within the next five years. The result is a 0.2 ppts and 1.2ppts reduction respectively.
Roy Morgan CEO, Michele Levine, affirms SA, TAS and WA have provided the largest boost to national business confidence in the last year.
For the month of June, the best performing industries were; mining, education & training.