Original article by Roy Morgan Research
Market Research Update – Page: Online : 29-Jan-16

A Roy Morgan Business Single Source survey has found that Australian business confidence fell by 3.9 points to 110.6 in January 2016, following a decline of 4.2 points in December and 0.6 points in November. The combined drop of 8.7 points (down 7.3 per cent) over the last three months is an indication that the initial increase in confidence following Malcolm Turnbull becoming Prime Minister has been outweighed by the negative local and international economic environment, which saw the ASX decline by 8.6 per cent in the first three weeks of January. Despite the negative trend in business confidence over the last three months, it is still 7.8 per cent above the level prior to the appointment of Turnbull. Business confidence is now below the five-year average of 116.8 and is a sign that confidence is very fragile and easily impacted by negative economic events.

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ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ