Business Confidence – Roy Morgan Business Confidence 2010-2023
| JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC | Annual Average | |
| 2023 | 106.4 | 95.8 | 93.6 | 90.2 | 90.3 | 88.8 | 87.5 | 94.7 | 87.1 | 90.4 | 85.8 | 91.8 | |
| 2022 | 101.5 | 120.5 | 106.7 | 113.0 | 100.2 | 97.3 | 94.9 | 96.0 | 100.7 | 96.6 | 90.2 | 96.0 | 101.1 |
| 2021 | 120.5 | 120.8 | 124.0 | 125.3 | 129.3 | 128.3 | 117.2 | 101.5 | 104.6 | 115.3 | 113.0 | 120.2 | 118.3 |
| 2020 | 101.6 | 104.6 | 95.1 | 76.9 | 89.9 | 95.0 | 84.3 | 83.1 | 85.6 | 98.7 | 109.1 | 123.2 | 95.6 |
| 2019 | 105.9 | 105.6 | 106.7 | 102.9 | 114.4 | 114.7 | 114.0 | 114.3 | 110.6 | 106.0 | 108.4 | 104.5 | 109.0 |
| 2018 | 123.5 | 120.0 | 115.4 | 118.6 | 117.1 | 114.4 | 113.6 | 110.2 | 111.5 | 113.1 | 113.8 | 112.2 | 115.2 |
| 2017 | 116.8 | 111.4 | 113.8 | 116.6 | 113.8 | 111.8 | 117.0 | 114.4 | 113.2 | 112.7 | 114.1 | 117.4 | 114.4 |
| 2016 | 110.6 | 113.3 | 115.7 | 123.1 | 111.9 | 119.5 | 116.1 | 108.6 | 114.9 | 116.2 | 116.7 | 114.1 | 115.1 |
| 2015 | 114.9 | 105.7 | 112.4 | 105.1 | 114.7 | 114.8 | 112.3 | 102.6 | 112.8 | 119.3 | 118.7 | 114.5 | 112.3 |
| 2014 | 131.5 | 117.3 | 120.6 | 120.9 | 114.3 | 108.1 | 119.1 | 116.1 | 122.9 | 114.9 | 123.0 | 105.3 | 117.8 |
| 2013 | 122.5 | 123.8 | 122.9 | 120.0 | 113.8 | 112.7 | 117.3 | 119.6 | 134.3 | 136.3 | 131.1 | 125.2 | 123.3 |
| 2012 | 118.7 | 116.6 | 108.9 | 112.2 | 105.8 | 105.4 | 109.6 | 117.6 | 109.3 | 114.0 | 116.8 | 114.8 | 112.5 |
| 2011 | 132.9 | 129.5 | 130.5 | 128.2 | 119.5 | 107.8 | 99.8 | 101.8 | 108.1 | 112.6 | 115.7 | 117.2 | 116.9 |
| 2010 | 131.5 | 131.5 | |||||||||||
| Monthly Average | 115.9 | 114.2 | 112.7 | 111.7 | 110.3 | 109.1 | 107.9 | 106.1 | 108.8 | 111.2 | 112.0 | 115.0 | 112.5 |
| OVERALL ROY MORGAN AUSTRALIAN BUSINESS CONFIDENCE MONTHLY AVERAGE | 111.2 | ||||||||||||
Latest results for Roy Morgan Business Confidence Rating* 2023 for component questions are as follows:
| 2023 | JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |
| Interviews Sample | 1,454 | 1,455 | 1,431 | 1,724 | 1,492 | 1,494 | 1,586 | 1,555 | 1,498 | 1,805 | 1,519 | |
| Q1 Would you say the business is better off financially or worse off than it was at this time last year? | ||||||||||||
| Better off | 40 | 37 | 35 | 32 | 33 | 34 | 31 | 35 | 31 | 32 | 29 | |
| Worse off | 34 | 38 | 34 | 39 | 45 | 46 | 46 | 44 | 46 | 41 | 46 | |
| Question Difference | 6 | -1 | 1 | -7 | -12 | -12 | -15 | -9 | -15 | -9 | -17 | 0 |
| Q2 This time next year, do you expect the business to be better off financially or worse off than it is now? | ||||||||||||
| Better off | 47 | 42 | 42 | 39 | 40 | 41 | 38 | 46 | 38 | 40 | 37 | |
| Worse off | 21 | 28 | 27 | 28 | 25 | 26 | 27 | 21 | 31 | 29 | 27 | |
| Question Difference | 26 | 13 | 15 | 11 | 15 | 15 | 11 | 25 | 7 | 11 | 10 | 0 |
| Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months do you expect we’ll have good times financially or bad times? | ||||||||||||
| Good times | 49 | 39 | 39 | 37 | 38 | 36 | 33 | 40 | 43 | 41 | 35 | |
| Bad times | 48 | 59 | 60 | 60 | 61 | 62 | 65 | 58 | 55 | 57 | 64 | |
| Question Difference | 1 | -20 | -21 | -23 | -23 | -26 | -32 | -18 | -12 | -16 | -29 | 0 |
| Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we’ll have continuous good times during the next five years or so, or we’ll have bad times? | ||||||||||||
| Good times | 45 | 41 | 33 | 38 | 35 | 33 | 31 | 38 | 32 | 35 | 35 | |
| Bad times | 51 | 54 | 61 | 57 | 62 | 62 | 63 | 56 | 63 | 58 | 61 | |
| Question Difference | -6 | -13 | -28 | -19 | -27 | -29 | -32 | -18 | -31 | -23 | -26 | 0 |
| Q5 Will the next 12 months be a good time to invest in growing the business or or a bad time? | ||||||||||||
| Good time to invest | 48 | 47 | 46 | 41 | 46 | 45 | 48 | 42 | 38 | 40 | 42 | |
| Bad time to invest | 44 | 46 | 45 | 52 | 47 | 48 | 42 | 48 | 52 | 52 | 50 | |
| Question Difference | 4 | 1 | 1 | -11 | -1 | -3 | 6 | -6 | -14 | -12 | -8 | 0 |
| BUSINESS CONFIDENCE RATING | 106.4 | 95.8 | 93.6 | 90.2 | 90.3 | 88.8 | 87.5 | 94.7 | 87.1 | 90.4 | 85.8 | 0 |
*The Roy Morgan Business Confidence Rating is derived by adding 100.0 to the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to the five key questions outlined in the tables.
Earlier results from 2020 to 2022:
| 2022 | JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |
| Interviews Sample | 1,426 | 1,313 | 1,383 | 1,353 | 1,351 | 1,295 | 1,641 | 1,398 | 1,359 | 1,693 | 1,374 | 1,410 |
| Q1 Would you say the business is better off financially or worse off than it was at this time last year? | ||||||||||||
| Better off | 32 | 40 | 41 | 47 | 39 | 39 | 39 | 37 | 40 | 40 | 38 | 36 |
| Worse off | 38 | 31 | 33 | 31 | 33 | 34 | 37 | 37 | 34 | 32 | 40 | 34 |
| Question Difference | -6 | 9 | 8 | 16 | 6 | 5 | 2 | 0 | 6 | 8 | -2 | 2 |
| Q2 This time next year, do you expect the business to be better off financially or worse off than it is now? | ||||||||||||
| Better off | 45 | 53 | 43 | 48 | 41 | 42 | 41 | 44 | 44 | 42 | 45 | 47 |
| Worse off | 23 | 17 | 22 | 20 | 20 | 26 | 28 | 27 | 25 | 26 | 27 | 23 |
| Question Difference | 22 | 36 | 21 | 28 | 21 | 16 | 13 | 17 | 19 | 16 | 18 | 24 |
| Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months do you expect we’ll have good times financially or bad times? | ||||||||||||
| Good times | 50 | 62 | 51 | 54 | 45 | 39 | 41 | 40 | 44 | 42 | 34 | 39 |
| Bad times | 47 | 33 | 47 | 43 | 52 | 59 | 58 | 58 | 54 | 57 | 64 | 59 |
| Question Difference | 3 | 29 | 4 | 11 | -7 | -20 | -17 | -18 | -10 | -15 | -30 | -20 |
| Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we’ll have continuous good times during the next five years or so, or we’ll have bad times? | ||||||||||||
| Good times | 44 | 53 | 45 | 46 | 39 | 40 | 38 | 41 | 42 | 37 | 34 | 39 |
| Bad times | 50 | 41 | 48 | 46 | 54 | 55 | 58 | 54 | 52 | 59 | 60 | 55 |
| Question Difference | -6 | 12 | -3 | 0 | -15 | -15 | -20 | -13 | -10 | -22 | -26 | -16 |
| Q5 Will the next 12 months be a good time to invest in growing the business or or a bad time? | ||||||||||||
| Good time to invest | 45 | 53 | 47 | 52 | 44 | 45 | 44 | 44 | 45 | 44 | 43 | 40 |
| Bad time to invest | 49 | 37 | 43 | 40 | 47 | 45 | 48 | 49 | 47 | 47 | 51 | 51 |
| Question Difference | -5 | 16 | 4 | 12 | -3 | 0 | -4 | -5 | -2 | -3 | -8 | -11 |
| BUSINESS CONFIDENCE RATING | 101.5 | 120.5 | 106.7 | 113.0 | 100.2 | 97.3 | 94.9 | 96.0 | 100.7 | 96.6 | 90.2 | 96.0 |
| 2021 | JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |
| Interviews Sample | 1,021 | 1,237 | 1,324 | 1,320 | 1,388 | 1,343 | 1,341 | 1,301 | 1,417 | 1,661 | 1,368 | 1,697 |
| Q1 Would you say the business is better off financially or worse off than it was at this time last year? | ||||||||||||
| Better off | 38 | 42 | 44 | 43 | 48 | 50 | 44 | 35 | 28 | 36 | 40 | 41 |
| Worse off | 38 | 34 | 32 | 33 | 29 | 26 | 31 | 40 | 45 | 36 | 33 | 32 |
| Question Difference | 0 | 8 | 12 | 10 | 19 | 24 | 13 | -5 | -17 | 0 | 7 | 9 |
| Q2 This time next year, do you expect the business to be better off financially or worse off than it is now? | ||||||||||||
| Better off | 50 | 46 | 53 | 52 | 52 | 48 | 47 | 44 | 47 | 49 | 50 | 50 |
| Worse off | 16 | 13 | 15 | 13 | 12 | 12 | 20 | 19 | 19 | 14 | 15 | 18 |
| Question Difference | 34 | 33 | 38 | 39 | 40 | 36 | 27 | 25 | 28 | 35 | 33 | 32 |
| Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months do you expect we’ll have good times financially or bad times? | ||||||||||||
| Good times | 62 | 61 | 61 | 65 | 69 | 65 | 60 | 46 | 50 | 55 | 56 | 63 |
| Bad times | 35 | 37 | 36 | 32 | 26 | 32 | 38 | 51 | 48 | 42 | 41 | 34 |
| Question Difference | 27 | 24 | 25 | 33 | 41 | 33 | 22 | -5 | 2 | 13 | 15 | 29 |
| Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we’ll have continuous good times during the next five years or so, or we’ll have bad times? | ||||||||||||
| Good times | 57 | 56 | 56 | 55 | 56 | 58 | 52 | 41 | 51 | 53 | 47 | 53 |
| Bad times | 35 | 37 | 37 | 39 | 36 | 36 | 42 | 53 | 44 | 42 | 45 | 41 |
| Question Difference | 22 | 19 | 19 | 16 | 20 | 22 | 10 | -12 | 7 | 11 | 2 | 12 |
| Q5 Will the next 12 months be a good time to invest in growing the business or or a bad time? | ||||||||||||
| Good time to invest | 53 | 56 | 59 | 60 | 59 | 58 | 52 | 48 | 48 | 55 | 50 | 55 |
| Bad time to invest | 33 | 35 | 33 | 31 | 33 | 32 | 38 | 43 | 45 | 38 | 40 | 37 |
| Question Difference | 20 | 20 | 26 | 29 | 25 | 26 | 14 | 5 | 3 | 17 | 10 | 18 |
| BUSINESS CONFIDENCE RATING | 120.5 | 120.8 | 124.0 | 125.3 | 129.3 | 128.3 | 117.2 | 101.5 | 104.6 | 115.3 | 113.0 | 120.2 |
| 2020 | JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC |
| Interviews Sample | 923 | 991 | 885 | 1,191 | 1,749 | 1,366 | 1,380 | 1,320 | 1,375 | 1,266 | 1,296 | 1,586 |
| Q1 Would you say the business is better off financially or worse off than it was at this time last year? | ||||||||||||
| Better off | 35 | 36 | 34 | 15 | 16 | 23 | 22 | 21 | 24 | 28 | 32 | 37 |
| Worse off | 38 | 35 | 40 | 65 | 65 | 59 | 56 | 60 | 54 | 54 | 46 | 40 |
| Question Difference | -3 | 1 | -6 | -50 | -49 | -36 | -34 | -39 | -30 | -26 | -14 | -3 |
| Q2 This time next year, do you expect the business to be better off financially or worse off than it is now? | ||||||||||||
| Better off | 44 | 47 | 40 | 43 | 51 | 48 | 43 | 43 | 42 | 46 | 50 | 55 |
| Worse off | 17 | 21 | 29 | 28 | 19 | 21 | 24 | 26 | 27 | 19 | 16 | 12 |
| Question Difference | 27 | 26 | 11 | 16 | 32 | 27 | 19 | 17 | 15 | 27 | 34 | 43 |
| Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months do you expect we’ll have good times financially or bad times? | ||||||||||||
| Good times | 36 | 40 | 30 | 26 | 32 | 36 | 28 | 32 | 30 | 39 | 50 | 63 |
| Bad times | 56 | 55 | 63 | 73 | 65 | 62 | 71 | 66 | 68 | 58 | 47 | 34 |
| Question Difference | -20 | -15 | -33 | -47 | -33 | -26 | -43 | -34 | -38 | -19 | 3 | 29 |
| Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we’ll have continuous good times during the next five years or so, or we’ll have bad times? | ||||||||||||
| Good times | 44 | 50 | 45 | 37 | 45 | 46 | 35 | 38 | 36 | 46 | 47 | 56 |
| Bad times | 47 | 44 | 46 | 58 | 48 | 47 | 60 | 56 | 59 | 47 | 48 | 38 |
| Question Difference | -3 | 6 | -1 | -21 | -3 | -1 | -25 | -18 | -23 | -1 | -1 | 18 |
| Q5 Will the next 12 months be a good time to invest in growing the business or or a bad time? | ||||||||||||
| Good time to invest | 48 | 50 | 46 | 36 | 46 | 50 | 46 | 41 | 47 | 52 | 58 | 60 |
| Bad time to invest | 41 | 43 | 42 | 48 | 43 | 40 | 42 | 51 | 44 | 40 | 34 | 31 |
| Question Difference | 7 | 7 | 4 | -12 | 3 | 10 | 4 | -10 | 3 | 12 | 24 | 29 |
| BUSINESS CONFIDENCE RATING | 101.6 | 104.6 | 95.1 | 76.9 | 89.9 | 95.0 | 84.3 | 83.1 | 85.6 | 98.7 | 109.1 | 123.2 |
