Business confidence rises off canvas

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From Roy Morgan Research:

In May 2020 Roy Morgan Business Confidence was up 13pts (+16.7%) to 89.9 and recovering significantly from the record low reached in April.

The good news in May is that for the first time in 2020 a majority of businesses, 50.5% (up 7.4ppts), said they expect the business will be ‘better off’ financially this time next year compared to only 18.7% (down 8.9ppts) that expect to be ‘worse off’.

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About the author
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.