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

COCHLEAR R&D INVESTMENT DRIVES NEW PRODUCTS AND BOOSTS PROFIT AND REVENUE

COCHLEAR (ASX: COH) has boosted its 2017 full year net profit by 18 percent to $223.6 million and has forecast furthe...

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

TREASURY WINES UNCORKS SWEET $269M PROFIT DESPITE INVENTORY WOES

REVEALING the fruits of its past year of labour, Treasury Wine Estates (ASX: TWE) has posted a 55 per cent increas...

TATTS GROUP POSTS PROFIT AND REVENUE DROP ON FEWER JACKPOTS AND BAD WEATHER FOR RACING

TATTS Group (ASX: TTS) has posted a full year net profit loss of 5.7 percent and a revenue decline of 8.4 per cent as...

Related News

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by ...

HOW MAKING MISTAKES AND PASSION SCORED WEIGHT LOSS PARTNERS A DEAL WITH SHARK TANK'S JANINE ALLIS

THEY partnered up to provide a scientific and targeted approach to dieting, and Kate Save and Geoff Draper cut Sha...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter