Original article by Roy Morgan
Market Research Update – Page: Online : 10-May-23

In April 2023, Roy Morgan Business Confidence was 90.2 (down 3.4pts since March), before the RBA raised interest rates by 25 basis points last week to 3.85%. Business Confidence has returned to its level of November 2022 (90.2), when official interest rates were at 2.85%; there have since been four interest rate increases, totalling 1% points. Business Confidence is now 22.1pts below the long-term average of 112.3. Now 38.7% (down 3.1ppts) expect the business will be ‘better off’ financially this time next year, while 27.7% (up 0.6ppts) expect the business will be ‘worse off’. Meanwhile, 40.5% (down 5.6ppts) say the next 12 months will be a ‘good time to invest in growing the business’, while 51.7% (up 6.5ppts) say it will be a ‘bad time to invest in growing the business’. Only 37.4% (down 1.1ppts) of businesses expect ‘good times’ for the Australian economy over the next 12 months, while 60.1% (down 0.2ppts) expect ‘bad times’.

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