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Roy Morgan’s business confidence index collapsed in August after Melbourne joined Sydney in hard lockdown:
Roy Morgan Business Confidence plunged 15.7pts (-13.4%) to 101.5. Despite the fall Business Confidence is 18.4pts (+18.1%) higher than a year ago in August 2020 (83.1).
Business Confidence in August 2021 was 12.3pts below the long-term average of 113.8 but pluralities of 47.9% of businesses say the next 12 months is a ‘good time to invest in growing the business’ and 44.1% of businesses expect to be ‘better off’ this time next year…
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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.