After weeks of heavy falls, Roy Morgan’s business confidence index has rebounded following the release of roadmaps by the NSW and Victorian Governments out of lockdowns:
This month, September 2021, Roy Morgan Business Confidence increased 3.1pts (+3.1%) to 104.6. Business Confidence has increased for the first time since May following the outlining of re-opening plans in September in both NSW and Victoria. Business Confidence is a significant 19pts (+22.2%) higher than a year ago in September 2020 (85.6).
However, Business Confidence in September 2021 was 9.2pts below the long-term average of 113.8. Businesses grew increasingly confident about the performance of the Australian economy with a majority of 50.4% of businesses expecting ‘good times’ for the economy over the next 12 months. In addition, a plurality of 47.4% of businesses say the next 12 months is a ‘good time to invest in growing the business’…
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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.
