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Australia’s business confidence has begun to tank amid consecutive interest rate hikes from the Reserve Bank, alongside ongoing concerns around supply chains and input costs.
The Roy Morgan Business Confidence index fell by 2.9 points (-2.9%) to 97.3 – the second straight monthly decline – falling to its lowest reading since September 2020:
According to Roy Morgan:
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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.