Business confidence ended 2019 on a sour note, with Roy Morgan’s latest monthly business confidence index crashing to an eight-month low amid concerns surrounding the Australian economy:
In December 2019 Roy Morgan Business Confidence dropped 3.9pts (-3.6%) to an eight-month low of 104.5. Declining sentiment about the performance of the Australian economy over the next year and the next five years drove the fall.
Only 40.3% (down 4.5ppts) of business leaders expect the Australian economy will have ‘good times’ in 2020 and 42.2% (down 4.3ppts) expect ‘good times’ for the economy over the next five years.
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
