Australia’s business confidence first increase since May

The Business Confidence Index in Australia has increased for the first time since May.

The Index’s report cites following the outlining of re-opening plans in September in both NSW and Victoria, business confidence data gained +3.1% m/m to 104.6 on Monday, and +22.2% y/y.

Business confidence in September 2021 was 9.2pts below the long-term average of 113.8.
As vaccination levels increase in NSW and Victoria, businesses have grown increasingly confident about the performance of the Australian economy.

Now 50.4% (up 4.2ppts) expect good times for the economy over the next year and 50.6% (up 9.5ppts) expect good times over the next five years.