Business confidence lifted by 5.9% in September, with finance and insurance leading the way

While business confidence over 2014 has been relatively low, Roy Morgan’s latest survey showed things started to look up in the business sphere over September, with an improvement of 5.9% from the previous month to 122.9.

This is the highest level of business confidence since January 2014 and above the four year average, with finance and insurance leading the way at 138.1, followed by rental, hiring and real estate services at 135.9. However the construction industry sat below the average confidence level at only 115.3.

Roy Morgan Research communications director Norman Morris said the improvement in business confidence in September was largely due to “the increase in optimism about the next 12 months for the Australian economy and the positive impact that this would have on the financial position of businesses.”

Morris explained that the “improved outlook” was also a result of a number of other factors, including issues relating to the budget going relatively quiet, the senate blocking of a number of major changes and stable interest rates.

“With some small signs that business will consider increasing investment in the next 12 months, banks will need to improve their dealings with customers as shown by Roy Morgan Business Bank Satisfaction, which remains well below the satisfaction level of the banks’ personal customers,” he said.