Latest Business Confidence Survey
These are the latest findings from the Roy Morgan Monthly Business Confidence Survey conducted amongst a sample of 2,750 businesses across Australia in August 2011.
The Roy Morgan Business Confidence Rating stood at 128.2 in April 2011, immediately prior to the decline in the ASX. The confidence rating continued to slide down to 99.8 in July before showing marginal signs of recovery to 101.8 in August.
The major reason for the decline in confidence between April 2011 and August 2011 has been the dramatic drop in the outlook for the Austr
alian economy over the next 12 months with the majority of businesses (53%) now considering that “Australia will have bad economic conditions in the next 12 months”. This compares to only 36% who had this view in April 2011.