Australian business confidence rebounds in July

SYDNEY -- Roy Morgan Research’s latest Business Confidence survey in July 2014 made strong gains, improving by 11 points (10.2%) from June (to 119.1), rebounding from the negative impact of the Budget reflected in the May result and in line with the improvement in consumer confidence since the Budget.

Business confidence is still 17.2 points (12.6%) below the peak of 136.3 in October 2013 following election of a new Government, but it is now above the average of the last four years (118.5).
Driving the improvement in confidence in July was an increase in the proportion of businesses feeling that economic conditions in Australia would improve over the next year and over the next five years. This is now back to pre-Budget levels
As a result of the improvement in outlook for the economy, there was an increase to 57% (from 52%) in the proportion thinking that the next 12 months would be a good time to invest in growing their business, the highest level since April 2014. www.roymorgan.com (ATI).