Original article by Roy Morgan
Market Research Update – Page: Online : 11-Sep-24

In August 2024, Roy Morgan Business Confidence was 101.3 (up 6.2pts since July). The boost to Business Confidence came after the Stage 3 tax cuts were introduced for income taxpayers in July and the latest inflation figure dropped to 3.5%. However, Business Confidence is now 9.9pts below the long-term average of 111.2, although it is up 6.6pts on August 2023. Now 56.4% (up 7.1ppts) of businesses expect ‘good times’ for the Australian economy over the next year (the highest figure for this indicator since February 2022), while 41.7% (down 7ppts) expect ‘bad times’ (the lowest figure for this indicator since February 2022). Meanwhile, 46.2% (up 7.4ppts) of businesses expect the business to be ‘better off’ financially this time next year, while 19.7% (down 0.9ppts) expect the business to be ‘worse off’ financially (the lowest figure for this indicator since February 2022). The latest Roy Morgan Business Confidence results for August are based on 1,481 detailed interviews with a cross-section of Australian businesses from each State and Territory.

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