Original article by Roy Morgan
Market Research Update – Page: Online : 24-Jan-24

In December 2023, Roy Morgan Business Confidence was 91.1 (up 5.3pts since November). The rebound in Business Confidence came after the RBA left interest rates unchanged at 4.35% in its final meeting for the year in early December. Business Confidence has now spent a record eleven consecutive months below the neutral level of 100, the longest stretch in negative territory in the history of the index dating back to 2010. Business Confidence is now 20.1pts below the long-term average of 111.2. Businesses are worried about the performance of the Australian economy, with 64% expecting ‘bad times’ for the economy over the next year and 59% expecting ‘bad times’ for the economy over the next five years. Nevertheless, businesses remain relatively positive about their own prospects over the next year; 42.8% say they will be ‘better off’ financially this time next year, while only 25.4% say they will be ‘worse off’ – a positive net rating of 17.4% points. The Roy Morgan Business Confidence results for December are based on 1,497 detailed interviews with a cross-section of Australian businesses from each State and Territory.

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