AUSTRALIAN BUSINESS CONFIDENCE FRAGILE AHEAD OF FEDERAL ELECTION

SYDNEY - There has been a sharp decline in business confidence amongst Australia’s mid-market organisations in the June quarter, according to the Commonwealth Bank Future Business Index. It shows that business confidence has fallen to a six-month low of 5.2, following two quarters of increases in confidence. The sharp decline in sentiment across mid-market businesses reflects a range of factors including the impact of policy and government uncertainty in the lead up to the Federal election, rising energy and fuel costs and increased wage pressures.