Insurance and finance more optimistic than most
Sentiment in the finance and insurance sectors appeared to be improving as the industry closed out 2011, according to new data released by Roy Morgan Research.
The data, covering quarterly business confidence, suggested that sentiment reached its 2011 peak in around late April and early May, before ebbing to low levels in September and then recovering through October, November and December.
Across the total of businesses surveyed by Roy Morgan in the December quarter, the research found that confidence had increased for five consecutive months from a low point reached in July last year.
The research analysis said the major reason for the lift in confidence from July through to December had been a big increase in the proportion of businesses considering Australia will have good economic conditions in the next 12 months.
However, Roy Morgan Research industry communications director Norman Morris said that although business confidence had risen over the last five months, not all states and industries had the same level of optimism.
He said the most positive industry outlook had come from mining and finance, while the least optimistic were wholesale trade, construction, manufacturing, retail and agriculture.
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