Roy Morgan Business Confidence down only slightly in June to 128.3; but new COVID-19 restrictions a clear threat to the recovery

Original article by Roy Morgan
Market Research Update – Page: Online : 30-Jun-21

In June 2021, Roy Morgan Business Confidence fell 1pt (-0.8%) to 128.3. Despite the fall, Business Confidence is 33.3pts (+35.1%) higher than a year ago (95.0), and it is now 14.4pts above the long-term average of 113.9. Business Confidence has now averaged 124.7 during the first six months of 2021, the best start to a year for the Index for a decade since 2011. The index also averaged 124.7 in the first half of 2011 during the middle of the ‘Mining Boom’. This is the first time in the history of the index that Business Confidence has been above 120 for seven consecutive months from December 2020 to June 2021. Some 64.8% of businesses now expect ‘good times’ for the Australian economy over the next 12 months and 58.4% say the next 12 months is a ‘good time to invest in growing the business’. The Business Confidence result for June is based on interviewing conducted before the Sydney-wide lockdown and the latest restrictions introduced in several States announced over the weekend.

CORPORATES
ROY MORGAN LIMITED

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