Monday, November 11th, 2013
Roy Morgan Research’s latest Business Confidence survey in October 2013 shows that Australian Business Confidence rose to a record high level during the month, building on the extraordinary peak achieved following the September federal election. An increase of 2 points from September to a score of 136.3 is the highest level of Business Confidence recorded since the survey began in December 2010. These figures are the result of 2,922 interviews with business across all industries, sizes and locations around Australia.

For the first time since April 2011 the proportion of Australian businesses reporting that they are better off now than at the same time last year was higher than the proportion reporting they were worse off, with 28.2% better off and 27.7% worse off. The proportion of businesses expecting Australia to have good times financially in the next 12 months also rose to a new record high of 76.7%, while those expecting bad times fell to a new record low of 23.3%. Similarly for the next 5 years, the proportion of businesses expecting good times rose to a record high of 80.4%, compared to a record low for those expecting bad times of 19.7%.

Monthly Business Confidence - Australia


Source: Business Confidence, Roy Morgan Business Single Source, average monthly sample, n = 2270

All States reported an increase in Business Confidence from September, with Queensland, South Australia and Tasmania all reporting the highest values recorded since this series began. The largest increases in Business Confidence were reported in Queensland (up 8.7 points to 133.1) and NSW (up 8.1 to 131.5); the lowest reported increases were in Tasmania (up 2.5 to 126.3) and Victoria (up 2.9 points to 127.8).

The Mining industry in particular reported a large increase in Business Confidence, up 19.1 points to 156.4; the next highest increase was reported in the Administrative and Support Services (up 12.1 points to 134.9). Several industries also reported the highest level of Business Confidence yet recorded, including the Manufacturing industry (126.8 points, up 4.9 points from September), Retail (up 4.6 to 126.3), Accommodation and Food Services (up 3.1 to 126.5), Finance (up 6.4 points to 146.7) and Personal services (up 8.3 points to 122.7).

Nigel Smith, Director of Business Research, Roy Morgan Research, says:

“Business Confidence in October reflects both business approval for the change in Government and a more general improvement in business performance. The Mining industry clearly believes the change in Government will have a beneficial impact on their businesses, despite what appears to be an otherwise negative outlook for that industry.

“While sources such as the Reserve Bank appear to forecast the next 12 months to be particularly tough for Australian businesses, businesses themselves do not appear to share this pessimism. The Retail, Accommodation and Food Services and Personal Services industries, in particular, have their highest figures we have yet recorded coming into the Christmas season.”

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Roy Morgan Research

Roy Morgan Research is Australia’s best known and longest established market research and public opinion survey company. Roy Morgan Single Source is thorough, accurate, and provides comprehensive, directly applicable information about current and future customers. It is unique in that it directs all the questions to each individual from a base survey sample of around 55,000 interviews in Australia and 15,000 interviews in New Zealand annually - the largest Single Source databases in the world. The questions asked relate to lifestyle and attitudes, media consumption habits (including TV, radio, newspapers, magazines, cinema, catalogues, pay TV and the Internet), brand and product usage, purchase intentions, retail visitations, service provider preferences, financial information and recreation and leisure activities. This lead product is supported by a nationally networked, consultancy-orientated market research capability.
Shaun Ellis
P: 03 9224 5332


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