Business owners, Professionals and Managers swing decisively to new Turnbull Government; Business Confidence up under Malcolm Turnbull

November 12, 2015roymorgansocial Leave a comment

Original article by Michele Levine, Gary Morgan, Roy Morgan Research
Market Research Update – Page: Online : 11-Nov-15

Business owners, Professionals and Managers have swung decisively behind the Malcolm Turnbull Government, with the L-NP vote now 61.5% (up 12.5 per cent from pre-Turnbull), compared with 38.5 per cent for the ALP (down 12.5 per cent). Confidence for this group of Business owners, Professionals and Managers has increased to 118.6 (up 5.2pts from pre-Turnbull), according to a special analysis of business people using data from Roy Morgan Single Source. In addition, the Roy Morgan survey of businesses shows that real Business Confidence has increased from 102.6 in August 2015 to 119.3 in October – a strong increase following Turnbull’s ascension to the Prime Ministership. The website of "The Australian" has selectively reported the NAB Business Confidence poll, which claims that Business Confidence is down since Malcolm Turnbull took over leadership – this is far from the truth and only serves to destabilise the new Turnbull leadership or cast doubt on the Coalition tax reform discussions. For years the business community has been calling for tax reform and a complete review of the Australian taxation system. It is unbelievable and inconceivable to think business has now lost confidence because Turnbull and Treasurer Scott Morrison are reviewing tax and "everything including GST is on the table". The NAB Business Confidence survey (sample and methodology undisclosed) reporting a drop in Business Confidence is either a "rogue poll", based on wrong questions or perhaps represents a very unrepresentative sample of the business community.

CORPORATES
ROY MORGAN RESEARCH LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY

Australian Roy Morgan Business Confidence strengthens further in October to highest level for 2015

November 10, 2015roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 9-Nov-15

A Roy Morgan Business Single Source survey has found that Australian business confidence rose by 5.8 per cent to 119.3 in October 2015, to the highest level since November 2014. This improvement in confidence was generally expected initially as a result of Malcolm Turnbull becoming Prime Minister, but it has strengthened further in October to be 16.3 per cent higher than prior to the leadership change in August. Roy Morgan Business Confidence is now above the five-year average of 116.9 and higher than 12 months ago (114.9). The increase in business confidence in October was a result of improvements across all components of the index. The strongest gains were in how businesses feel about the economy over the next 12 months and five years, and the encouragement this would give them to invest in their business, which is now at the highest level for the year.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Australian Roy Morgan Business Confidence boosted in September with change of PM but remains below average

October 12, 2015roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 9-Oct-15

A Roy Morgan Business Single Source survey has found that Australian business confidence rose by 9.9 per cent to 112.8 in September 2015. This improvement in confidence for Australia’s economic outlook was generally expected as a result of the change in Prime Minister. However, business confidence still remains below the five-year average (116.8) and the level of 12 months ago (122.9). The increase in Roy Morgan Business Confidence in September was a result of improvements across all components of the index. The strongest gains were in how businesses feel about the economy over the next 12 months and the next five years, and the encouragement this would give them to invest in their business.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

RBA urged not to cut interest rate

October 6, 2015roymorgansocial Leave a comment

Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 6-Oct-15

The Reserve Bank of Australia’s "shadow board" believes that the cash rate should either be left at two per cent for the next six months or increased. Shadow board member Mark Crosby says economic reforms such as tax cuts would do more to stimulate the economy than further rate cuts. He adds that more rate cuts may increase the debt problem in Australia. Crosby also says the growing expectation that rates will soon rise in the US should prompt the Reserve Bank to leave rates on hold.

CORPORATES
RESERVE BANK OF AUSTRALIA, UNIVERSITY OF MELBOURNE, UNIVERSITY OF NEW SOUTH WALES, MACQUARIE UNIVERSITY, UNIVERSITY OF SYDNEY, UNIVERSITY OF TASMANIA, HSBC AUSTRALIA HOLDINGS PTY LTD, UNITED STATES. FEDERAL RESERVE BOARD, COMMONWEALTH SECURITIES LIMITED, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Negative outlook for the Australian economy over the next 12 months causes decline in July business confidence

August 11, 2015roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 11-Aug-15

A Roy Morgan Business Single Source survey has found that Australian business confidence declined by 2.2 per cent to 112.3 points in July 2015. Business confidence is now down 6.8 points (5.7 per cent) from 12 months ago and remains below the five-year average of 117.2. The proportion of businesses that are pessimistic about the economic conditions in Australia over the next 12 months increased to 49 per cent in July (up from 40 per cent in June), compared to 36 per cent in July 2014.