Business confidence rose 13 points in December. Firms’ views of their own activity lifted 6 points.  

Expected profitability and employment, investment and export intentions rose, and perceived availability of credit jumped sharply. Marring the picture a little, most indicators for the agriculture sector deteriorated.

In the December ANZ Business Outlook Survey headline business confidence lifted meaningfully. That said, it remains in the red, with a net 24% of respondents reporting they expect general business conditions to deteriorate in the year ahead. More importantly, firms’ perceptions of their own activity rose 6 points to a net 14% expecting a lift. The construction sector continued to be the most optimistic at +22%. The retail sector remains the least positive (1.9%).