Roy Morgan has released its business confidence survey for April, which reveals that confidence hit a seven year high 125.3 – up 48.4 points (+62.9%) on a year ago.
Business Confidence is now 11.6 points above the long-term average of 113.7, with 65% of businesses expecting ‘good times’ for the Australian economy over the next 12 months and an increasing majority of 59.5% of businesses saying the next 12 months will be a ‘good time to invest in growing the business’. Importantly, businesses have swept aside concerns about the end of JobKeeper.
It is also the best start to a year for the business confidence index for a decade since 2011, which was during the middle of the mining boom.
