Fresh from Roy Morgan:
Roy Morgan Research’s latest Business Confidence survey in June 2014 fell a further 6.2 points (5.4%) from May (to 108.1), continuing the negative impact of the Budget reflected in the May result and in line with the drop in consumer confidence since the Budget. Business confidence is now 28.2 points (20.7%) below the peak of 136.3 in October 2013 following the new government and the lowest level recorded since June 2012 when it was 105.4. These June figures are the results of 1,240 interviews with all types of businesses across Australia.
The main reason for loss of confidence in June was the decline in the proportion of businesses feeling that economic conditions in Australia would improve over the next five years. This is now at its lowest level since August 2011.
As a result of this decline in outlook for the economy, there was a drop to 52% (from 54%) in the proportion thinking that the next 12 months would be a good time to invest in growing their business, the lowest level since June 2013.
Monthly Business Confidence – Australia
The other surveys around confidence from NAB and Dun&Bradstreet have held up better to date.
