Business confidence hits new record high in Australia

MELBOURNE – A Roy Morgan Research survey shows that Australian business confidence rose to a record high level during October, building on an extraordinary peak achieved following the September federal election. An increase of two points from September to a score of 136.3 is the highest level of Business Confidence recorded since the survey began in December 2010.

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 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 five 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%. www.roymorgan.com/ (ATI).