Confidence continues to rise as Australian businesses predict healthy profits well into the year, according to illion’s latest Business Expectations Survey. The Preliminary survey for the June quarter boosted the Business Expectations Index to its highest level since December 2003, representing a 31% annual rise.
“Momentum from the March quarter forecast appears to have carried over for the Q2 outlook. The Preliminary report for a quarter always provides interesting results, so we’ll wait to see how this unfolds over the next two months. Despite the buoyant mood among business, consumer sentiment remains the key factor for converting optimism into results and for that to rise sustainably we need to see wages grow.”
Simon Bligh, illion CEO