BUSINESS CONFIDENCE FRAGILE BUT GROWING

Written on the 26 November 2012

BUSINESS CONFIDENCE FRAGILE BUT GROWING

CONFIDENCE is growing in a wide range of sectors and more than half of businesses will invest in further growth in the next year, says a new study.

A range of industries reported improved optimism in the month to October in Roy Morgan’s Business Confidence in Australia report, but industry communications director Norman Morris says conditions remain volatile.

Confidence improved 4.7 points to 114, from 109.3 in September, with 53 per cent of businesses surveyed indicating the next 12 months will be a good time to invest in growing their business, up from 49 per cent.

Morris warns the positive signs are fragile and could easily reverse and remain at historically low levels.

“With a very precarious situation in a number of European countries, talk of the USA approaching the ‘fiscal cliff’, Chinese growth slowing and the high Australian dollar, business confidence is likely to remain volatile,” he says.

“It is worth remembering that although the current level of business confidence has shown some improvement in October to reach 114, it remains well below the level seen in January 2011 when it was 132.9.”

The confidence boost was not uniform across all industries: construction, hospitality, healthcare and finance all improved, while confidence in the mining industry, retail and manufacturing industries fell.

Businesses in all states remain positive and WA remains near the top on 116.9 just behind Victoria on 117.0, but there. Is little difference in confidence between the states.


Latest News

GUVERA ESCAPES WIND-UP ORDER

GUVERA has avoided being wound up after a claim for a $1.78 million debt by Kwong Properties was dismissed at the ...

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

WESFARMERS' COAL BUSINESS ON FIRE

WESFARMERS (ASX: WES) has lifted its first-half profit guidance due to surging coal prices and higher than expected c...

SIXTH CONSECUTIVE RECORD PROFIT FOR AP EAGERS

AP EAGERS (ASX: APE) will beat guidance with its sixth-consecutive record profit when it reports its full year result...

Related News

CONSUMERS PESSIMISTIC ENTERING 2017

CONSUMER confidence remains at its weakest point since April 2016, according to the latest Westpac Melbourne Institut...

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION

IN a battle for the hearts and wallets of Australian consumers, it appears that small and medium retail businesses...

KNOWLEDGE WORKERS AMONG MOST SOUGHT AFTER IN 2017

BUSINESSES searching for efficiencies and improved systems are in search of knowledge workers early this year, say...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter