Wednesday, February 15th, 2012 - Roy Morgan Research
Australian businesses are currently facing a challenging economic environment, however business confidence varies considerably between industries and as such should not be seen as a single measure to be applied to all sectors. This new business confidence data is revealed in the recently launched Roy Morgan State of the Nation Report 10 which features a spotlight focus on the ‘Business Outlook for Australia in 2012’.
The analysis of confidence by industry sector shows that there are many ‘speeds’, rather than the much publicised ‘two-speeds’, of the current Australian economy with all the major industries having different levels of confidence.

The ‘Mining’ industry has the highest confidence (134.6) but it is followed closely by ‘Finance and Insurance’ (132.6) and ‘Arts and Recreational Services’ (131.1). ‘Manufacturing’ (110.0) and ‘Retail’ (109.5) are below the average confidence level and receive a lot of publicity regarding their plight but there are six other industries that have a lower confidence and need some attention.

Business Confidence by Industry

Source: Roy Morgan Research Business Single Source, Oct 11 – Dec 11, n = 5,547.

Norman Morris, Industry Communications Director, Roy Morgan Research, says:
“Our analysis clearly shows that many other industries apart from the much publicised mining sector have high levels of confidence and it is important that more economic commentary recognises this fact. Equally, much is being written regarding the difficulty facing manufacturing in Australia when there are in reality a number of major sectors of the economy with an even more negative outlook. We need to move away from focusing on one industry at a time and look at the bigger picture.”
Roy Morgan’s Australian State of the Nation Report 10 covers the standard features of this quarterly report, which includes a look into the trends of Australian society, this edition provides a comprehensive spotlight section on the ‘Business Outlook for Australia 2012.’

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