From RM:
Roy Morgan Research’s Business Confidence results in April dropped by 7.3 points (down 6.5% to 105.1) from March. This is the lowest level since August 2011 (101.8) and continues the underlying downward trend seen since the peak of 136.3 in October 2013. It is also well below the five-year average of 117.3. These April figures are the result of 705 interviews with all types of businesses across Australia.
The decline in business confidence occurred across all components of the index but stemmed mainly from a decrease in the proportion of businesses believing that Australia will experience good economic conditions over the next 12 months. The level of agreement with this positive outlook for the economy has declined from 57% in March to 51% in April – the lowest level since Sept 2011.
There was also a big drop in the proportion saying their business was better off financially than a year ago, dropping from 28% in March to only 22% in April.
Now below the 2012 mining boom low when the east cost was under the interest rate pump.
