Business confidence soared ahead of rate rise

The Roy Morgan business confidence survey for April has been released with confidence soaring 5.9% after the federal budget cut petrol excise in half, but before the RBA’s decision to hike interest rates 0.25%:

There were improvements across the index, and an increasing majority of businesses, 54%, expect ‘good times’ for the Australian economy over the next year while a slim majority, 51.6%, say the next 12 months will be a ‘good time to invest in growing the business’.

Roy Morgan business confidence

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