Original article by Roy Morgan
Market Research Update – Page: Online : 15-Feb-23

In January 2023, Roy Morgan Business Confidence rose 10.4 points to 106.4, the largest jump to start a new year since the index began in 2010. The increase to Business Confidence in January came before the RBA’s decision to increase interest rates for a ninth consecutive meeting, to the highest level since mid-2012. However, Business Confidence is 6.3pts below the long-term average of 112.7. Now 49.3% (up 10.1ppts) of businesses expect ‘good times’ for the Australian economy over the next year, while 48.2% (down 10.5ppts) expect bad times’. Some 46.7% (down 0.6ppts) of businssses expect the business will be ‘better off’ financially this time next year, while 20.8% (down 2.5ppts) expect the business will be ‘worse off’. Meanwhile, 48.3% (up 8.7ppts) of businesses say the next 12 months will be a ‘good time to invest in growing the business’, while 43.7% (down 7.5ppts) said it will be a ‘bad time to invest in growing the business’.

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