March Business Confidence Soars, Highest Since 2014
Roy Morgan’s Business Confidence Index has started 2018 on a high, with the March quarter soaring 5.7 pts [YoY] to 119.7 – its highest rating since 2014.
ANZ-Roy Morgan’s Consumer Confidence Index has also fared similarly, jumping 3.2 pts [YoY] to 119.4 for the quarter.
The result makes 2018’s March-quarter the “best start to a year” since 2013.
Roy Morgan CEO, Michele Levine, affirms Australian consumers and businesses have started 2018 “the most confident” since the end of the recent mining boom.
For the March quarter, Gen Y consumer confidence soared 8.6 pts to 128.7. The demographic now ranks higher than its Gen Z counterparts.
Roy Morgan’s latest research reveals business confidence for medium to large enterprises – turning over $5 million to $50 million – has also soared.
Covered further here, large enterprises have contributed to more to increased confidence than small or micro businesses.
NSW, SA and WA all posted notable increases in confidence, suggesting the end of the post mining boom slump.
Consumer confidence for both women and men increased, jumping 2.5 pts and 3.9 pts respectively, to 115.7 and 123.1.