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’.

CORPORATES
ROY MORGAN LIMITED

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

In March 2023, Roy Morgan Business Confidence was 93.6 (down 2.2pts since February), after the RBA raised interest rates for a record tenth consecutive meeting in March but before it left the cash rate unchanged in April. The fall in Business Confidence in March was the second consecutive fall after a new year’s boost in January, although the index remains below the recent low of 90.2 reached in November 2022. Business Confidence is also 18.9pts below the long-term average of 112.5. Now 41.8% of businesses (up 0.6ppts) expect the business will be ‘better off’ financially this time next year, while 27.1% (down 1ppt) expect the business will be ‘worse off’. Meanwhile, 46.1% (down 0.4ppts) say the next 12 months will be a ‘good time to invest in growing the business’, while 45.2% (down 1ppt) say it will be a ‘bad time to invest in growing the business’.

CORPORATES
ROY MORGAN LIMITED

Original article by Roy Morgan
Market Research Update – Page: Online : 15-Mar-23

In February 2023, Roy Morgan Business Confidence was 95.8 (down 10.6pts since January) after the RBA raised interest rates for a ninth consecutive meeting in early February. The fall in Business Confidence in February reversed the increase of 10.4pts in January, and Business Confidence is now 16.8pts below the long-term average of 112.6. Now just 39.1% (down 10.2ppts of businesses expect ‘good times’ for the Australian economy over the next year, while 59.3% (up 11.1ppts) expect bad times’. Some 41.2% (down 5.5ppts) of businesses expect the business will be ‘better off’ financially this time next year (the lowest figure for this indicator since the early stages of the pandemic in March 2020) while 28.1% (up 7.3ppts) expect the business will be ‘worse off’ (the highest figure for this indicator since in March 2020). Meanwhile, 46.5% (down 1.8ppts) of businesses say the next 12 months will be a ‘good time to invest in growing the business’, while 46.2% (up 2.5ppts) said it will be a ‘bad time to invest in growing the business’.

CORPORATES
ROY MORGAN LIMITED

Original article by Roy Morgan
Market Research Update – Page: Online : 15-Feb-23

In January 2023, Roy Morgan Business Confidence rose 10.4 points to 106.4, the largest jump to start a new year since the index began in 2010. The increase to Business Confidence in January came before the RBA’s decision to increase interest rates for a ninth consecutive meeting, to the highest level since mid-2012. However, Business Confidence is 6.3pts below the long-term average of 112.7. Now 49.3% (up 10.1ppts) of businesses expect ‘good times’ for the Australian economy over the next year, while 48.2% (down 10.5ppts) expect bad times’. Some 46.7% (down 0.6ppts) of businssses expect the business will be ‘better off’ financially this time next year, while 20.8% (down 2.5ppts) expect the business will be ‘worse off’. Meanwhile, 48.3% (up 8.7ppts) of businesses say the next 12 months will be a ‘good time to invest in growing the business’, while 43.7% (down 7.5ppts) said it will be a ‘bad time to invest in growing the business’.

CORPORATES
ROY MORGAN LIMITED

Original article by Roy Morgan
Market Research Update – Page: Online : 18-Jan-23

In December 2022, Roy Morgan Business Confidence rose 5.8 points to 96.0, largely recovering from the 6.4 point decline in November. The increase in Business Confidence came despite the Reserve Bank’s decision to raise interest rates for an eighth straight month in early December. However, Business Confidence is 16.8pts below the long-term average of 112.8. Now 39.2% (up 5.1ppts) of businesses expect ‘good times’ for the Australian economy over the next year, while 39.4% (up 5.9ppts) expect ‘good times’ for the economy over the next five years. Meanwhile, 58.7% of businesses expect ‘bad times’ for the economy over the next year, and 54.5% expect ‘bad times’ for the economy over the next five years.’ Some 47.3% (up 2.6ppts) of businesses expect the business will be ‘better off’ financially this time next year, and 39.6% (down 3.5ppts) say the next 12 months will be a ‘good time to invest in growing the business’.

CORPORATES
ROY MORGAN LIMITED

Original article by Roy Morgan
Market Research Update – Page: Online : 5-Oct-22

In September 2022, Roy Morgan Business Confidence rose 4.7pts to 100.7, the first time the index has increased in consecutive months so far this year. The index is now back in positive territory and at its highest since April 2022, before the Reserve Bank started raising interest rates in early May. However, Business Confidence is 12.5pts below the long-term average of 113.2. Some 43.6% (up 3.8ppts) of businesses expect ‘good times’ for the Australian economy over the next year, while 54.2% (down 4.1ppts) expect ‘bad times’. Meanwhile, 44.4% (up 0.9ppts) of businesses expect the business will be ‘better off’ financially this time next year, while 24.5% (down 2.4ppts) expect the business will be ‘worse off’. Businesses are split on whether to invest in growing their business; 44.8% (up 1.3ppts) say the next 12 months will be a ‘good time to invest in growing the business’, while 46.6% (down 2.8ppts) said it will be a ‘bad time to invest’ in growing the business.

CORPORATES
ROY MORGAN LIMITED

Original article by Roy Morgan
Market Research Update – Page: Online : 3-Aug-22

In July 2022, Roy Morgan Business Confidence fell 2.4pts to 94.9. This is the third straight monthly fall and the first time the index fell for three straight months since the long lockdowns in New South Wales and Victoria in August 2021. Business Confidence is now at its lowest since September 2020 (85.6), and 18.5pts below the long-term average of 113.4. The monthly decline in Business Confidence was driven by a fall in confidence about the prospects for the Australian economy over the next five years, with only 37.6% of businesses now expecting ‘good times’ for the economy over the next five years, down 2ppts from a month ago. Meanwhile, 41.4% (down 0.1ppts) expect the business to be ‘better off’ this time next year and 38.8% (up 0.2ppts) say the business is ‘better off’ financially than this time a year ago.

CORPORATES
ROY MORGAN LIMITED

Original article by Roy Morgan
Market Research Update – Page: Online : 16-Mar-22

In February 2022, Roy Morgan Business Confidence rose 19pts (+18.7%) to 120.5. This is the biggest monthly increase during the pandemic and essentially returns Business Confidence to its pre-Omicron level. There were positive moves across all aspects of the index; now 62.3% of businesses say they expect ‘good times’ for the Australian economy over the next year, while 53.1% of businesses say that the next 12 months will be a ‘good time to invest in growing the business’. On a State-based level there were large monthly increases across the board in February led by Victoria, up a large 29.5pts (+30.6%) to 125.7, South Australia, up 25pts (+25.7%) to 122.5, Queensland, up 17pts (+18.3%) to 109.5 and Western Australia, up 14.6pts (+12.6%) to 130.4 – once again the highest Business Confidence in the nation as the State prepared to fully re-open its borders in early March. Business Confidence has risen to its highest level since the start of the ‘Delta wave’ of COVID-19 in June 2021 (128.3).

CORPORATES
ROY MORGAN LIMITED

Original article by Roy Morgan
Market Research Update – Page: Online : 10-Feb-22

In January 2022, Roy Morgan Business Confidence fell by 18.7pts (-15.6%) to 101.5. This is the biggest monthly plunge in the index in points during the pandemic and the largest fall in percentage terms since April 2020, when the index dropped 18.2pts (-19.1%). The plunge in January came as the Omicron variant swept Australia causing the infection of over 2 million Australians and forcing millions more into isolation for being close contacts of confirmed cases. The disruption to businesses caused problems throughout the economy and led to breakdowns in supply chains which are only now being gradually rectified. On a State-based level there were monthly decreases across the board in January; this was led by NSW, down 17.1pts (-13.7%) to 107.6. Despite the large fall in January, Business Confidence remains marginally in positive territory above the neutral level of 100. However, Business Confidence has fallen to the same level it was at during the middle of the ‘Delta wave’ in August 2021 (101.5) and is now well below the long-term average of 113.7.

CORPORATES
ROY MORGAN LIMITED

Original article by Roy Morgan
Market Research Update – Page: Online : 26-Oct-21

In October 2021, Roy Morgan Business Confidence rose 10.7pts (+10.2%) to 115.3. This is the biggest increase in Business Confidence so far during 2021 and comes as long-running lockdowns have ended in Greater Sydney, Greater Melbourne and the ACT. Business Confidence is now 16.6pts (+16.8%) higher than in October 2020 (98.7), and it is back above the long-term average of 113.8 for the first time since July 2021. Now 55.1% of businesses expecting ‘good times’ for the economy over the next 12 months, while 55% of businesses say the next 12 months is a ‘good time to invest in growing the business’. Business Confidence in October was up strongly in all six States from a year ago. The biggest increase was in South Australia, where Business Confidence increased by 46.5pts (+50%) to 139.5 to be higher than any other State. Western Australia has the second highest level of Business Confidence at 130.8, up 22.4pts (+20.7%) from a year ago; it is now over 15pts higher than the national figure of 115.3.

CORPORATES
ROY MORGAN LIMITED