Liberal government and business confidence

Big drop in Australian business confidence in August —now the lowest in four years
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• September 09 2015
• Finding No. 6445
• Topic: Business Confidence Press Release Consumer Confidence
• Country: Australia

Source: Roy Morgan Business Single Source (Australia), December 2010-August 2015. Average monthly sample last 12 months, approx. 950.
Roy Morgan Research’s Business Confidence declined by 9.7 points in August (down 8.6% to 102.6) mainly due to the continued poor economic outlook for Australia over the next 12 months and the negative impact that this is likely to have on businesses’ future financial position. Business confidence is now down 13.5 points (11.6%) from 12 months ago and remains well below the five-year average of 116.9. The current level of 102.6 is the lowest since August 2011 when it was 101.8.
These August figures are the result of 866 interviews with all types of businesses across Australia.
The further decline in business confidence in August is of major concern, as it is now below the ANZ-Roy Morgan Australian Consumer Confidence average figure for the month, which was 113.0. Unfortunately the outlook for September at this stage for both consumers and businesses doesn’t look very positive, with the first week of the ANZ-Roy Morgan Consumer Confidence falling to 106.7 — putting it only marginally ahead of business confidence.
The decline in business confidence in August was caused by a drop in all components of the index. The biggest declines were in how businesses felt about their own financial position over the last 12 months, and their deteriorating financial outlook for the next 12 months.
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Oh dear, not looking good at all.
Dave R.