Business confidence edges up

Business confidence has improved over the latest quarter, with illion’s Business Expectations survey showing small increases in both expected and actual results. The retail sector delivered a seasonal rebound in its outlook for December, following a bout of pessimism last quarter.

“The latest survey results paint an optimistic picture across the wider Australian business community, especially in the retail sector as we approach its busiest time of year for sales. Some areas of concern remain, however, particularly on the employment front. For the broader economic landscape, the recent turmoil in federal politics, as well as risks from global trade protection policies, has the potential to undermine business confidence over the final three months of the year.”

Simon Bligh, illion CEO

“The results from the latest Business Expectations survey are reasonably solid, but not spectacular. The actual sales index increased significantly over the June quarter and further improvement is expected, albeit at a more moderate pace, in the December quarter. Profits followed a similar pattern, with improvements in both actual and expected indices.”

Stephen Koukoulas, illion Economic Adviser