In April 2020 Roy Morgan Business Confidence was down 18.2pts (-19.1%) to 76.9 – plunging to a second consecutive record monthly low.
However, there is some good news with Business Confidence in the second half of April showing a distinct improvement over the first half as Australia flattened the curve of new COVID-19 infections. In the first two weeks of April the index hit low of only 69.3, but averaged 82.0 during the second half of April.
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
