Original article by Roy Morgan
Market Research Update – Page: Online : 9-Jul-18
In Australia, Business Confidence fell 2.7pts (-2.3%) to 114.4 in June 2018, according to the latest Roy Morgan Business Single Source survey. However, it remains 2.6pts higher than a year ago and continues its best start to a year since 2014. Business Confidence traditionally falls in the months immediately following the Federal Budget and this year is no exception. Business Confidence has now decreased in six out of the last eight years in the two months following the Federal Budget (May and June). Despite the overall fall in confidence, businesses are still largely confident about the prospects for the Australian economy; 54.2% (down 0.2ppts) expect "good times" for the economy over the next 12 months and 50.3% (down 1.2ppts) expect "good times" for the economy over the next five years. Roy Morgan CEO Michele Levine says the decision by Opposition Leader Bill Shorten to support the Federal Government’s company tax cuts for any business turning over up to $50 million came too late to impact Business Confidence in June but will support Business Confidence in July and following months.
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