Victoria continues to pull business confidence lower, according to Roy Morgan Research:
In August 2020 Roy Morgan Business Confidence was down 1.2pts (-1.4%) to 83.1 – the second lowest monthly reading ever just above the April 2020 low of 76.9.
Business Confidence was 31.2pts lower than it was a year ago at 114.3 in August 2019, and 30.6pts below the long-term average, of 113.7. Business Confidence for August is significantly below the latest ANZ-Roy Morgan Consumer Confidence of 90.2 for August 29/30, 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.
