	JAN	FEB	MAR	APR	MAY	JUN	JUL	AUG	SEP	OCT	NOV	DEC	Annual Average
2010												131.5	131.5
2011	132.9	129.5	130.5	128.2	119.5	107.8	99.8	101.8	108.1	112.6	115.7	117.2	116.9
2012	118.7	116.6	108.9	112.2	105.8	105.4	109.6	117.6	109.3	114.0	116.8	114.8	112.4
2013	122.5	123.8	122.9	120.0	113.8	112.7	117.3	119.6	134.3	136.3	131.1	125.2	123.2
2014	131.5	117.3	120.6	120.9	114.3	108.1	119.1	116.1	122.9	114.9	123.0	105.3	117.8
2015	114.9	105.7	112.4	105.1	114.7	114.8	112.3	102.6	112.8	119.3	118.7	114.5	112.3
2016	110.6	113.3	115.7	123.1	111.9	119.5	116.1	108.6	114.9	116.2	116.7	114.1	115.0
2017	116.8	111.4	113.8	116.6	113.8	111.8	117.0	114.4	113.2	112.7	114.1	117.4	114.4
2018	123.5	120.0	115.4	118.6	117.1	114.4	113.6	110.2	111.5	113.1	113.8	112.2	115.2
2019	105.9	105.6	106.7	102.9	114.4	114.7	114.0	114.3	110.6	106.0	108.4	104.5	109.0
2020	101.6	104.6	95.1	76.9	89.9	95.0	84.3	83.1	85.6	98.7	109.1	123.2	95.5
2021	120.5	120.8	124.0	125.3	129.3	128.3	117.2	101.5	104.6	115.3	113.0	120.2	118.3
2022	101.5	120.5	106.7	113.0	100.2	97.3	94.9	96.0	100.7	96.6	90.2	96.0	101.1
2023	106.4	95.8	93.6	90.2									96.5
Monthly Average	115.9	114.2	112.7	111.7	112.0	110.8	109.6	107.1	110.7	112.9	114.2	115.0	112.8
OVERALL ROY MORGAN AUSTRALIAN BUSINESS CONFIDENCE MONTHLY AVERAGE													112.3

**Latest results for Roy Morgan Business Confidence Rating* 2023 for component questions are as follows:**

2023	JAN	FEB	MAR	APR	MAY	JUN	JUL	AUG	SEP	OCT	NOV	DEC
Interviews Sample	1,454	1,455	1,431	1,724
Q1 Would you say the business is better off financially or worse off than it was at this time last year?
Better off	40	37	35	32
Worse off	34	38	34	39
Question Difference	6	-1	1	-7	0	0	0	0	0	0	0	0
*Q2 This time next year, do you expect the business to be better off financially or worse off than it is now?*
Better off	47	42	42	39
Worse off	21	28	27	28
Question Difference	26	13	15	11	0	0	0	0	0	0	0	0
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months do you expect we’ll have good times financially or bad times?
Good times	49	39	39	37
Bad times	48	59	60	60
Question Difference	1	-20	-21	-23	0	0	0	0	0	0	0	0
Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we’ll have continuous good times during the next five years or so, or we’ll have bad times?
Good times	45	41	33	38
Bad times	51	54	61	57
Question Difference	-6	-13	-28	-19	0	0	0	0	0	0	0	0
Q5 Will the next 12 months be a good time to invest in growing the business or or a bad time?
Good time to invest	48	47	46	41
Bad time to invest	44	46	45	52
Question Difference	4	1	1	-11	0	0	0	0	0	0	0	0
BUSINESS CONFIDENCE RATING	106.4	95.8	93.6	90.2

Earlier results from 2010 to 2022:

*Results for Roy Morgan Business Confidence Rating for component questions are as follows:**
2022	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Interviews Sample	1,426	1,313	1,383	1,353	1,351	1,295	1,641	1,398	1,359	1,693	1,374	1,410
Q1 Would you say the business is better off financially or worse off than it was at this time last year?
Better off	32	40	41	46	39	39	39	37	40	40	38	36
Worse off	38	31	33	31	33	34	37	37	34	32	40	34
Question Difference	-6	9	8	15	6	5	2	0	6	8	-2	2
Q2 This time next year, do you expect the business to be better off financially or worse off than it is now?
Better off	44	53	43	48	41	42	41	44	44	42	45	48
Worse off	23	17	22	20	20	26	28	27	25	26	27	23
Question Difference	21	36	21	28	21	16	13	17	19	16	18	25
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months, do you expect we'll have good times financially or bad times?
Good times	50	62	51	54	45	39	41	40	44	42	34	39
Bad times	47	33	47	43	52	59	58	58	54	57	64	59
Question Difference	3	29	4	11	-7	-20	-17	-18	-10	-14	-29	-19
Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we'll have continuous good times during the next five years or so, or we'll have bad times?
Good times	44	53	45	46	39	40	38	41	42	37	34	39
Bad times	50	41	48	46	55	55	58	54	52	59	60	55
Question Difference	-6	12	-3	0	-16	-15	-20	-13	-10	22	26	-14
Q5 Will the next 12 months be a good time to invest in growing the business or a bad time?
Good time to invest	44	53	47	51	44	45	44	43	45	44	43	40
Bad time to invest	49	37	43	40	47	44	48	49	47	47	51	51
Question Difference	-5	16	4	11	-3	1	-4	-6	-2	-3	-8	-11
Monthly Roy Morgan Business Confidence Rating	101.5	120.5	106.7	113.0	100.2	97.3	94.9	96.0	100.7	96.6	90.2	96.0
*The Roy Morgan Business Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to five key questions.

*Results for Roy Morgan Business Confidence Rating for component questions are as follows:**
2021	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Interviews	1,021	1,237	1,324	1,320	1,388	1,343	1,341	1,301	1,417	1,661	1,368	1,697
Q1 Would you say the business is better off financially or worse off than it was at this time last year?
Better off	38	42	44	43	48	50	44	35	28	36	40	41
Worse off	38	34	32	33	29	26	31	40	44	36	33	32
Question Difference	0	8	12	10	19	24	13	-5	-16	0	7	9
Q2 This time next year, do you expect the business to be better off financially or worse off than it is now?
Better off	50	46	53	52	52	48	47	44	47	49	50	50
Worse off	16	13	15	13	12	12	20	19	19	14	18	18
Question Difference	34	33	38	39	40	36	27	25	28	35	32	32
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months, do you expect we'll have good times financially or bad times?
Good times	62	61	61	65	69	65	60	46	50	55	56	63
Bad times	35	37	36	32	28	32	38	51	48	42	41	34
Question Difference	27	24	25	33	41	33	22	-5	2	13	15	29
Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we'll have continuous good times during the next five years or so, or we'll have bad times?
Good times	57	56	55	55	56	58	52	41	51	53	46	53
Bad times	35	37	37	39	36	36	42	53	44	42	45	41
Question Difference	22	19	18	16	20	22	10	-12	7	11	1	12
Q5 Will the next 12 months be a good time to invest in growing the business or a bad time?
Good time to invest	53	55	59	59	59	58	52	48	47	55	50	55
Bad time to invest	33	35	33	31	33	32	38	43	45	38	40	36
Question Difference	20	20	26	28	26	26	14	5	2	17	10	19
Monthly Roy Morgan Business Confidence Rating	120.5	120.8	124.0	125.3	129.3	128.3	117.2	101.5	104.6	115.3	113.0	120.2
*The Roy Morgan Business Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to five key questions.

*Results for Roy Morgan Business Confidence Rating for component questions are as follows:**
2020	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Interviews	923	991	885	1,191	1,749	1,366	1,380	1,320	1,375	1,266	1,296	1,586
Q1 Would you say the business is better off financially or worse off than it was at this time last year?
Better off	35	36	34	15	16	23	22	21	24	28	31	37
Worse off	38	35	40	65	65	59	56	60	54	54	46	40
Question Difference	-3	1	-6	-50	-49	-36	-34	-39	-30	-26	-15	-3
Q2 This time next year, do you expect the business to be better off financially or worse off than it is now?
Better off	44	46	40	43	51	48	43	43	42	46	50	55
Worse off	17	21	29	28	19	21	24	26	26	19	16	12
Question Difference	27	25	11	15	32	27	19	17	16	27	34	43
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months, do you expect we'll have good times financially or bad times?
Good times	36	39	30	26	32	36	28	32	30	39	50	63
Bad times	56	55	63	73	65	61	71	66	68	58	47	34
Question Difference	-20	-16	-33	-47	-33	-25	-43	-34	-38	-19	3	29
Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we'll have continuous good times during the next five years or so, or we'll have bad times?
Good times	44	50	45	37	45	46	35	38	36	46	47	56
Bad times	47	44	46	58	48	47	60	56	59	47	48	38
Question Difference	-3	6	-1	-21	-3	-1	-25	-18	-23	-1	-1	18
Q5 Will the next 12 months be a good time to invest in growing the business or a bad time?
Good time to invest	48	50	46	36	46	50	46	41	47	52	58	60
Bad time to invest	41	43	42	48	43	40	42	51	44	40	34	31
Question Difference	7	7	4	-12	3	10	4	-10	3	12	24	29
Monthly Roy Morgan Business Confidence Rating	101.6	104.6	95.1	76.9	89.9	95.0	84.3	83.1	85.6	98.7	109.1	123.2
*The Roy Morgan Business Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to five key questions.

*Results for Roy Morgan Business Confidence Rating for component questions are as follows:**
2019	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Interviews	825	843	815	841	1,000	884	1,117	983	951	1,104	1,086	979
Q1 Would you say the business is better off financially or worse off than it was at this time last year?
Better off	39	40	42	37	36	38	39	33	34	40	39	41
Worse off	34	32	38	34	31	28	32	31	35	33	34	30
Question Difference	5	8	4	3	5	10	7	2	-1	7	5	11
Q2 This time next year, do you expect the business to be better off financially or worse off than it is now?
Better off	45	51	50	35	45	54	54	53	52	42	51	50
Worse off	25	24	24	22	16	14	20	15	18	20	21	20
Question Difference	20	27	26	13	29	40	34	38	34	22	30	30
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months, do you expect we'll have good times financially or bad times?
Good times	41	41	46	41	47	50	49	46	46	41	45	40
Bad times	51	53	49	48	41	40	43	45	48	52	51	57
Question Difference	-10	-12	-3	-7	6	10	6	1	-2	-11	-6	-17
Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we'll have continuous good times during the next five years or so, or we'll have bad times?
Good times	49	46	44	43	52	52	52	54	51	44	46	42
Bad times	41	44	46	47	35	36	39	39	43	46	44	53
Question Difference	8	2	-2	-4	17	16	13	15	8	-2	2	-11
Q5 Will the next 12 months be a good time to invest in growing the business or a bad time?
Good time to invest	47	45	50	48	51	41	49	53	53	50	49	48
Bad time to invest	41	42	41	39	36	43	39	38	39	36	38	39
Question Difference	6	3	9	9	15	-2	10	15	14	14	11	9
Monthly Roy Morgan Business Confidence Rating	105.9	105.6	106.7	102.9	114.4	114.7	114.0	114.3	110.6	106.0	108.4	104.5
*The Roy Morgan Business Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to five key questions.

*Results for Roy Morgan Business Confidence Rating for component questions are as follows:**
2018	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Interviews	859	896	809	957	863	801	949	812	802	785	800	780
Q1 Would you say the business is better off financially or worse off than it was at this time last year?
Better off	45	42	39	52	41	44	41	40	38	41	42	37
Worse off	27	26	30	32	30	28	30	31	30	29	28	29
Question Difference	18	16	9	20	11	16	11	9	8	12	14	8
Q2 This time next year, do you expect the business to be better off financially or worse off than it is now?
Better off	53	43	51	59	47	47	48	45	45	45	51	44
Worse off	18	17	18	22	16	22	21	21	21	23	21	19
Question Difference	35	26	33	37	31	25	27	24	24	22	30	25
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months, do you expect we'll have good times financially or bad times?
Good times	59	53	52	52	54	54	49	47	49	52	49	48
Bad times	36	39	40	41	38	39	44	45	44	42	45	41
Question Difference	23	14	12	11	16	15	5	2	5	10	4	7
Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we'll have continuous good times during the next five years or so, or we'll have bad times?
Good times	56	56	49	52	52	50	51	50	51	49	52	49
Bad times	36	35	40	39	39	40	39	40	40	41	42	40
Question Difference	20	21	9	13	13	10	12	10	11	8	10	9
Q5 Will the next 12 months be a good time to invest in growing the business or a bad time?
Good time to invest	55	56	51	51	53	47	51	48	48	51	50	51
Bad time to invest	33	33	37	39	39	41	38	42	38	37	39	39
Question Difference	22	23	14	12	14	6	13	6	10	14	11	12
Monthly Roy Morgan Business Confidence Rating	123.5	120.0	115.4	118.6	117.1	114.4	113.6	110.2	111.5	113.1	113.8	112.2
*The Roy Morgan Business Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to five key questions.

*Results for Roy Morgan Business Confidence Rating for component questions are as follows:**
2017	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Interviews	1,012	958	995	1,211	950	892	991	855	869	919	857	899
Q1 Would you say the business is better off financially or worse off than it was at this time last year?
Better off	38	40	43	42	39	39	45	41	40	42	42	41
Worse off	28	31	29	29	33	30	28	32	36	29	28	28
Question Difference	10	9	14	13	6	9	17	9	4	13	14	13
Q2 This time next year, do you expect the business to be better off financially or worse off than it is now?
Better off	43	46	46	49	44	44	47	52	48	46	44	50
Worse off	16	17	20	20	23	19	20	18	20	23	20	20
Question Difference	27	29	26	29	21	25	27	34	28	23	24	30
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months, do you expect we'll have good times financially or bad times?
Good times	52	46	50	53	53	47	53	44	51	48	50	52
Bad times	40	47	46	40	41	46	41	47	43	46	44	43
Question Difference	12	-1	4	13	12	1	12	-3	8	2	6	9
Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we'll have continuous good times during the next five years or so, or we'll have bad times?
Good times	55	49	50	50	51	50	51	51	49	50	51	52
Bad times	35	42	42	39	40	43	42	38	41	40	41	40
Question Difference	20	7	8	11	11	7	9	13	8	10	10	12
Q5 Will the next 12 months be a good time to invest in growing the business or a bad time?
Good time to invest	53	53	54	54	55	53	56	55	55	54	54	57
Bad time to invest	38	40	38	37	36	36	36	36	37	38	37	34
Question Difference	15	13	16	17	19	17	20	19	18	16	17	23
Monthly Roy Morgan Business Confidence Rating	116.8	111.4	113.8	116.6	113.8	111.8	117.0	114.4	113.2	112.7	114.1	117.4
*The Roy Morgan Business Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to five key questions.

*Results for Roy Morgan Business Confidence Rating for component questions are as follows:**
2016	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Interviews	1,010	1,196	1,030	1,000	1,016	1,044	982	961	1,049	1,038	950	930
Q1 Would you say the business is better off financially or worse off than it was at this time last year?
Better off	27	36	36	41	33	36	38	33	38	36	40	40
Worse off	33	32	29	27	31	28	26	34	28	29	28	31
Question Difference	-6	4	7	14	2	8	12	-1	10	7	12	9
Q2 This time next year, do you expect the business to be better off financially or worse off than it is now?
Better off	33	44	41	51	39	43	41	37	41	37	47	47
Worse off	22	16	18	13	18	15	19	20	20	17	17	20
Question Difference	11	28	23	38	21	28	22	17	21	20	30	27
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months, do you expect we'll have good times financially or bad times?
Good times	52	46	53	54	51	52	52	50	53	54	50	47
Bad times	48	46	42	38	42	41	41	45	43	39	43	47
Question Difference	4	0	11	16	9	11	11	5	10	15	7	0
Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we'll have continuous good times during the next five years or so, or we'll have bad times?
Good times	62	53	56	54	54	59	55	53	56	56	53	54
Bad times	38	39	36	32	38	32	36	38	37	35	39	38
Question Difference	24	14	20	22	16	27	19	15	19	21	14	16
Q5 Will the next 12 months be a good time to invest in growing the business or a bad time?
Good time to invest	60	55	54	55	51	57	54	49	54	55	54	55
Bad time to invest	40	34	37	29	39	34	38	42	40	37	33	37
Question Difference	20	21	17	26	12	23	16	7	14	18	21	18
Monthly Roy Morgan Business Confidence Rating	110.6	113.3	115.7	123.1	111.9	119.5	116.1	108.6	114.9	116.2	116.7	114.1
*The Roy Morgan Business Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to five key questions.

*Results for Roy Morgan Business Confidence Rating for component questions are as follows:**
2015	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Interviews	1,056	743	908	705	1,376	926	905	866	1,099	1,048	924	1,001
Q1 Would you say the business is better off financially or worse off than it was at this time last year?
Better off	28	27	28	22	27	30	35	25	29	30	29	29
Worse off	27	31	29	31	32	33	31	35	31	29	29	30
Question Difference	1	-4	-1	-9	-5	-3	4	-10	-2	1	0	-1
Q2 This time next year, do you expect the business to be better off financially or worse off than it is now?
Better off	32	29	31	29	34	34	39	29	34	36	37	34
Worse off	12	18	14	15	14	17	18	20	20	19	19	19
Question Difference	20	11	17	14	20	17	21	9	14	17	18	15
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months, do you expect we'll have good times financially or bad times?
Good times	59	54	57	51	60	60	51	50	57	63	63	55
Bad times	41	46	43	49	40	40	49	50	43	37	37	45
Question Difference	18	8	14	2	20	20	2	0	14	26	26	10
Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we'll have continuous good times during the next five years or so, or we'll have bad times?
Good times	63	57	61	56	62	61	60	56	62	66	65	64
Bad times	37	43	39	44	37	39	39	44	38	34	34	36
Question Difference	26	14	22	12	25	22	21	12	24	32	31	28
Q5 Will the next 12 months be a good time to invest in growing the business or a bad time?
Good time to invest	54	49	55	53	57	59	57	51	57	60	59	60
Bad time to invest	45	50	45	47	43	41	43	49	43	40	41	40
Question Difference	9	-1	10	6	14	18	14	2	14	20	18	20
Monthly Roy Morgan Business Confidence Rating	114.9	105.7	112.4	105.1	114.7	114.8	112.3	102.6	112.8	119.3	118.7	114.5
*The Roy Morgan Business Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to five key questions.

*Results for Roy Morgan Business Confidence Rating for component questions are as follows:**
2014	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Interviews	1,546	1,343	1,511	1,325	1,372	1,240	950	1,027	1,013	1,052	1,099	756
Q1 Would you say the business is better off financially or worse off than it was at this time last year?
Better off	33	28	33	30	30	25	27	27	28	27	27	25
Worse off	27	28	29	29	29	31	30	31	31	32	26	33
Question Difference	6	0	4	1	1	-6	-3	-4	-3	-5	1	-8
Q2 This time next year, do you expect the business to be better off financially or worse off than it is now?
Better off	47	40	38	42	37	35	37	32	38	33	37	34
Worse off	10	12	11	12	16	17	14	13	12	12	12	18
Question Difference	37	28	27	30	21	18	23	19	26	21	25	16
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months, do you expect we'll have good times financially or bad times?
Good times	71	61	62	64	57	54	64	61	67	62	66	53
Bad times	29	39	38	36	43	46	36	39	33	38	33	47
Question Difference	42	22	24	28	14	8	28	22	34	24	33	6
Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we'll have continuous good times during the next five years or so, or we'll have bad times?
Good times	72	62	64	65	64	58	67	64	68	65	66	54
Bad times	27	38	36	35	36	42	32	36	32	35	34	46
Question Difference	45	24	28	30	28	16	35	28	36	30	32	8
Q5 Will the next 12 months be a good time to invest in growing the business or a bad time?
Good time to invest	64	56	60	58	54	52	57	57	61	52	62	52
Bad time to invest	36	44	40	42	46	48	43	43	39	48	38	48
Question Difference	28	12	20	16	8	4	14	14	22	4	24	4
Monthly Roy Morgan Business Confidence Rating	131.5	117.3	120.6	120.9	114.3	108.1	119.1	116.1	122.9	114.9	123.0	105.3
*The Roy Morgan Business Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to five key questions.

*Results for Roy Morgan Business Confidence Rating for component questions are as follows:**
2013	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Interviews	2,761	2,943	2,755	2,793	3,052	2,863	2,681	3,188	2,787	2,922	1,624	1,841
Q1 Would you say the business is better off financially or worse off than it was at this time last year?
Better off	27	26	27	24	23	23	24	23	28	28	30	29
Worse off	29	30	32	32	33	34	35	33	30	28	29	29
Question Difference	-2	-4	-5	-8	-10	-11	-11	-10	-2	0	1	0
Q2 This time next year, do you expect the business to be better off financially or worse off than it is now?
Better off	39	38	38	36	34	35	40	38	47	44	43	43
Worse off	14	12	13	14	15	15	15	12	10	10	9	11
Question Difference	25	26	25	22	19	20	25	26	37	34	34	32
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months, do you expect we'll have good times financially or bad times?
Good times	67	67	66	66	59	58	62	65	75	77	72	66
Bad times	32	32	34	34	41	42	38	35	25	23	27	34
Question Difference	35	35	32	32	18	16	24	30	50	54	45	32
Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we'll have continuous good times during the next five years or so, or we'll have bad times?
Good times	70	73	73	72	68	67	69	70	77	80	75	69
Bad times	30	27	27	28	32	33	31	30	23	19	25	31
Question Difference	40	46	46	44	36	34	38	40	54	61	50	38
Q5 Will the next 12 months be a good time to invest in growing the business or a bad time?
Good time to invest	57	58	58	55	53	52	55	56	66	66	63	62
Bad time to invest	43	42	42	45	47	48	45	44	34	34	37	38
Question Difference	14	16	16	10	6	4	10	12	32	32	26	24
Monthly Roy Morgan Business Confidence Rating	122.5	123.8	122.9	120.0	113.8	112.7	117.3	119.6	134.3	136.3	131.1	125.2
*The Roy Morgan Business Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to five key questions.

*Results for Roy Morgan Business Confidence Rating for component questions are as follows:**
2012	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Interviews	2,241	2,199	2,319	2,132	2,787	2,577	2,524	2,830	2,676	2,919	2,810	3,048
Q1 Would you say the business is better off financially or worse off than it was at this time last year?
Better off	27	27	22	24	24	22	23	25	22	25	24	25
Worse off	31	31	35	32	36	38	36	34	34	31	30	31
Question Difference	-4	-4	-13	-8	-12	-16	-13	-9	-12	-6	-6	-6
Q2 This time next year, do you expect the business to be better off financially or worse off than it is now?
Better off	40	37	34	35	33	34	34	40	32	35	35	34
Worse off	13	14	18	18	18	19	17	14	16	15	14	15
Question Difference	27	23	16	17	15	15	17	26	16	20	21	19
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months, do you expect we'll have good times financially or bad times?
Good times	61	59	57	59	53	54	57	62	58	59	62	61
Bad times	39	41	43	41	47	46	43	38	42	41	37	39
Question Difference	22	18	14	18	6	8	14	24	16	18	25	22
Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we'll have continuous good times during the next five years or so, or we'll have bad times?
Good times	69	67	65	65	62	61	64	68	64	66	68	66
Bad times	30	33	35	35	38	39	36	32	36	34	32	33
Question Difference	39	34	30	30	24	22	28	36	28	32	36	33
Q5 Will the next 12 months be a good time to invest in growing the business or a bad time?
Good time to invest	55	56	49	52	48	49	51	55	49	53	54	53
Bad time to invest	45	44	51	48	52	51	49	44	51	47	46	47
Question Difference	10	12	-2	4	-4	-2	2	11	-2	6	8	6
Monthly Roy Morgan Business Confidence Rating	118.7	116.6	108.9	112.2	105.8	105.4	109.6	117.6	109.3	114.0	116.8	114.8
*The Roy Morgan Business Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to five key questions.

*Results for Roy Morgan Business Confidence Rating for component questions are as follows:**
2010-2011	Dec (2010)	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
Interviews	1,364	1,111	1,006	1,157	1,230	1,131	1,097	1,169	2,750	2,086	1,894	1,832	1,821
Q1 Would you say the business is better off financially or worse off than it was at this time last year?
Better off	35	38	36	37	37	36	28	32	24	28	26	27	28
Worse off	33	27	33	32	33	37	40	43	39	38	36	32	32
Question Difference	2	0	3	5	4	-1	-12	-11	-15	-10	-10	-5	-4
Q2 This time next year, do you expect the business to be better off financially or worse off than it is now?
Better off	51	54	55	53	54	48	38	38	34	39	40	36	40
Worse off	15	10	12	11	13	18	16	25	20	15	15	15	14
Question Difference	36	44	43	42	41	30	22	13	14	24	25	21	26
Q3 Thinking of economic conditions in Australia as a whole. In the next 12 months, do you expect we'll have good times financially or bad times?
Good times	70	64	63	65	64	59	49	42	47	51	55	60	59
Bad times	29	36	37	35	36	41	50	57	53	49	45	40	41
Question Difference	41	28	26	30	28	18	-1	-15	-6	2	10	20	18
Q4 Looking ahead, what would you say is more likely? That in Australia as a whole, we'll have continuous good times during the next five years or so, or we'll have bad times?
Good times	74	71	74	74	70	66	63	57	58	61	65	66	67
Bad times	26	29	26	26	30	34	37	43	42	38	35	34	33
Question Difference	48	42	48	48	40	32	26	14	16	23	30	32	34
Q5 Will the next 12 months be a good time to invest in growing the business or a bad time?
Good time to invest	65	70	63	64	64	59	52	49	50	51	54	55	56
Bad time to invest	35	30	36	36	36	41	48	51	50	49	46	45	44
Question Difference	30	40	27	28	28	18	4	-2	0	2	8	10	12
Monthly Roy Morgan Business Confidence Rating	131.5	132.9	129.5	130.5	128.2	119.5	107.8	99.8	101.8	108.1	112.6	115.7	117.2
*The Roy Morgan Business Confidence Rating is 100.0 plus the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to five key questions.

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Business Confidence – Roy Morgan Business Confidence 2010-2023

**Latest results for Roy Morgan Business Confidence Rating* 2023 for component questions are as follows:**

Earlier results from 2010 to 2022: