In June 2020 Roy Morgan Business Confidence was up 5.1pts (+5.7%) to 95.0led by increases in WA, NSW and Queensland. Business Confidence in June is nowvirtually level with its March result of 95.1 during the onset of the COVID-19pandemic and shut-downs.
The good news in June is that for the first time in 2020 a majority ofbusinesses, 50.2% (up 3.9ppts), said that the next year will be a ‘good timeto invest in growing the business’ compared to only 40.4% (down 2.9ppts) thatsaid it will be a ‘bad time to invest’ – the lowest so far in 2020.
In addition nearly half of all businesses, 48.3% said they expect theirbusiness will be ‘better off’ financially this time next year compared to only21.1% that expect to be ‘worse off’.
Overall the June 2020 Business Confidence level is 19.7pts lower than thelevel it was a year ago and 19.2pts below the long-term average of 114.2.Business Confidence for June is slightly higher than the latest ANZ-Roy MorganConsumer Confidence of 93.0 for June 27/28, 2020.
The latest Roy Morgan Business Confidence results for June are based on 1,366detailed interviews with a nation-wide cross-section of Australian businessesfrom each State and Territory as part of the Roy Morgan Business Survey.
The survey began in May 2010, and now adding 12,000 new interviews each year,covers businesses from every industry of all sizes across Australia. BusinessConfidence delivers rich firmographics such as turnover, industry, size,location and satisfaction with banks, insurance and more. It is weighted torepresent total businesses in Australia according to ABS data.
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