Confidence spikes in wake of election

federal-government/roy-morgan/

12 November 2013
| By Staff |
image
image image
expand image

Business confidence hit a record high in October following the election of the new Federal Government, research reveals.

After two years of significant confidence fluctuations, more than three quarters of businesses (76.7 per cent) said they were anticipating favourable financial results in the next 12 months, while 80 per cent expected good conditions in the next five years, according to a Roy Morgan survey.

The rating of 136.3 was the highest confidence score since the research — which comprises almost 3000 interviews — began.

The mining sector in particular recorded a spike in confidence, up 19.1 points to 156.4 on the scale, followed by administrative and support services, which lifted 12.1 points to 134.9.

Roy Morgan director of business research Nigel Smith said the results reflected the business community's endorsement of the new Government.

"The mining industry clearly believes the change in Government will have a beneficial impact on their businesses, despite what appears to be an otherwise negative outlook for that industry," he said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

1 week 3 days ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

1 month ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month 1 week ago

AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies. ...

3 days 2 hours ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

1 week 6 days ago

The inquiry into the collapse of Dixon Advisory and broader wealth management companies by the Senate economics references committee will not be re-adopted. ...

2 weeks 6 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Powered by MOMENTUM MEDIA
moneymanagement logo