Morgan Poll Update

Business Confidence in Australia slides further in May despite interest rate cut

L-NP increases lead as renewed leadership speculation strikes the Gillard Government

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Last weekend’s Morgan Poll shows support for the L-NP at 56%, up 1% in a week (since May 31-June 2, 2013) cf. ALP 44% (down 1%) on a two-party preferred basis according to the multi-mode weekly  Morgan Poll.

The L-NP primary vote is 46% (up 0.5%) now further ahead of the ALP 31% (down 0.5%). Among the minor parties Greens support is 9.5% (unchanged) and support for Independents/ Others is 13.5% (unchanged). Support for Katter’s Australian Party is 3% while support for the Palmer United Party is 2.5%.

If a Federal Election were held today the L-NP would win the election easily according to today’s multi-mode weekly Morgan Poll on Federal voting intention, June 7-10, 2013 with an Australia-wide cross-section of 3,369 Australian electors aged 18+.

Today’s Roy Morgan Consumer Confidence is 115.1 (down 1.3pts in a week, and down 4.2pts in a month). Full release out later today. Today’s Roy Morgan May Business Confidence is also down, dropping to 113.8 (down 6.2pts in a month).

Business Confidence in Australia slides further in May despite interest rate cut

Business Confidence in Australia slides further in May despite interest rate cut

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Roy Morgan Research’s Business Confidence survey in May showed a decline for the third consecutive month.  The May result of 113.8, while still a positive score, was well down on the April figure of 120.0 and represents a concerning trend for economic recovery in Australia. These results are from 3052 interviewers with business decision makers across Australia during May 2013.

The drop in Business Confidence is due in large part to a decline in the number of businesses reporting that they were feeling positive about economic conditions in Australia over the last 12 months which has dropped from 66% in April to only 59% in May and is now at the lowest level since October 2012.  This decline in the economic outlook for the next 12 months has obviously impacted on business investment intentions with only 53% now considering that the next 12 months would be a good time “to invest in growing the business”. This is the lowest level this year.

ENDS

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