Original article by Roy Morgan
Market Research Update – Page: Online : 13-Jun-23

In May 2023, Roy Morgan Business Confidence was 90.3 (up 0.1pts since April). The Business Confidence survey was conducted after Treasurer Jim Chalmers delivered the Federal Government’s Budget in early May, but before the RBA raised interest rates by 0.25% to 4.1%. Business Confidence has now spent four consecutive months below the neutral level of 100, the longest stretch in negative territory since October 2020 during the first year of the COVID-19 pandemic. Business Confidence is now 21.9pts below the long-term average of 112.2. Now 40.2% (up 1.5ppts) of businesses expect the business will be ‘better off’ financially this time next year, while 25.1% (down 2.6ppts) expect the business will be ‘worse off’. Meanwhile, 46.3% (up 5.8ppts) say the next 12 months will be a ‘good time to invest in growing the business’, while 47% (down 4.7ppts) say it will be a ‘bad time to invest in growing the business’. However, only 38% (up 0.6ppts) of businesses expect ‘good times’ for the Australian economy over the next 12 months, while 61.2% (up 1.1ppts) expect ‘bad times’.

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