In June 2020 Roy Morgan Business Confidence was up 5.1pts (+5.7%) to 95.0 led by increases in WA, NSW and Queensland. Business Confidence in June is now virtually level with its March result of 95.1 during the onset of the COVID-19 pandemic and shut-downs.
The good news in June is that for the first time in 2020 a majority of businesses, 50.2% (up 3.9ppts), said that the next year will be a ‘good time to invest in growing the business’ compared to only 40.4% (down 2.9ppts) that said it will be a ‘bad time to invest’ – the lowest so far in 2020.
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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.
