	JAN	FEB	MAR	APR	MAY	JUN	JUL	AUG	SEP	OCT	NOV	DEC	Annual Average
2023	106.4	95.8	93.6	90.2	90.3	88.8	87.5	94.7	87.1	90.4	85.8		91.8
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
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
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	95.6
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
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
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
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	115.1
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
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
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	123.3
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	112.5
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
2010												131.5	131.5
Monthly Average	115.9	114.2	112.7	111.7	110.3	109.1	107.9	106.1	108.8	111.2	112.0	115.0	112.5
OVERALL ROY MORGAN AUSTRALIAN BUSINESS CONFIDENCE MONTHLY AVERAGE													111.2

**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	1,492	1,494	1,586	1,555	1,498	1,805	1,519
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	33	34	31	35	31	32	29
Worse off	34	38	34	39	45	46	46	44	46	41	46
Question Difference	6	-1	1	-7	-12	-12	-15	-9	-15	-9	-17	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	40	41	38	46	38	40	37
Worse off	21	28	27	28	25	26	27	21	31	29	27
Question Difference	26	13	15	11	15	15	11	25	7	11	10	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	38	36	33	40	43	41	35
Bad times	48	59	60	60	61	62	65	58	55	57	64
Question Difference	1	-20	-21	-23	-23	-26	-32	-18	-12	-16	-29	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	35	33	31	38	32	35	35
Bad times	51	54	61	57	62	62	63	56	63	58	61
Question Difference	-6	-13	-28	-19	-27	-29	-32	-18	-31	-23	-26	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	46	45	48	42	38	40	42
Bad time to invest	44	46	45	52	47	48	42	48	52	52	50
Question Difference	4	1	1	-11	-1	-3	6	-6	-14	-12	-8	0
BUSINESS CONFIDENCE RATING	106.4	95.8	93.6	90.2	90.3	88.8	87.5	94.7	87.1	90.4	85.8	0

*The Roy Morgan Business Confidence Rating is derived by adding 100.0 to the simple unweighted average of the difference between the percentage of respondents who give a favourable and those who give unfavourable answers to the five key questions outlined in the tables.

Earlier results from 2020 to 2022:

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	47	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	16	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	45	53	43	48	41	42	41	44	44	42	45	47
Worse off	23	17	22	20	20	26	28	27	25	26	27	23
Question Difference	22	36	21	28	21	16	13	17	19	16	18	24
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	-15	-30	-20
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	54	55	58	54	52	59	60	55
Question Difference	-6	12	-3	0	-15	-15	-20	-13	-10	-22	-26	-16
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	45	53	47	52	44	45	44	44	45	44	43	40
Bad time to invest	49	37	43	40	47	45	48	49	47	47	51	51
Question Difference	-5	16	4	12	-3	0	-4	-5	-2	-3	-8	-11
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

2021	JAN	FEB	MAR	APR	MAY	JUN	JUL	AUG	SEP	OCT	NOV	DEC
Interviews Sample	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	45	36	33	32
Question Difference	0	8	12	10	19	24	13	-5	-17	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	15	18
Question Difference	34	33	38	39	40	36	27	25	28	35	33	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	26	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	56	55	56	58	52	41	51	53	47	53
Bad times	35	37	37	39	36	36	42	53	44	42	45	41
Question Difference	22	19	19	16	20	22	10	-12	7	11	2	12
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	53	56	59	60	59	58	52	48	48	55	50	55
Bad time to invest	33	35	33	31	33	32	38	43	45	38	40	37
Question Difference	20	20	26	29	25	26	14	5	3	17	10	18
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

2020	JAN	FEB	MAR	APR	MAY	JUN	JUL	AUG	SEP	OCT	NOV	DEC
Interviews Sample	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	32	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	-14	-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	47	40	43	51	48	43	43	42	46	50	55
Worse off	17	21	29	28	19	21	24	26	27	19	16	12
Question Difference	27	26	11	16	32	27	19	17	15	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	40	30	26	32	36	28	32	30	39	50	63
Bad times	56	55	63	73	65	62	71	66	68	58	47	34
Question Difference	-20	-15	-33	-47	-33	-26	-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 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
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

Roy Morgan Business Confidence Archive 2010-2019

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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 2020 to 2022:

Roy Morgan Business Confidence Archive 2010-2019