Roy Morgan Research Roy Morgan Business Confidence down 2.7pts to 120.5 in January â Majority of businesses expect âgood timesâ for the next 12 months
Country: Australia Source: Roy Morgan Business Single Source, Dec 2010-Jan 2021. Average monthly sample over the last 12 months = 1,286.
In January 2021 Roy Morgan Business Confidence was down 2.7pts (-2.2%) to 120.5 – the first decline in the index since August 2020 after four straight months of gains. Despite the fall Business Confidence is now 7.1pts above the long-term average of 113.4.
The good news is that a clear majority of 61.7% of businesses expect ‘good times’ for the Australian economy over the next 12 months and a majority of 52.9% of businesses said the next 12 months is a ‘good time to invest in growing the business’.
ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 108.9 in the first reading of the year for January 9/10, 2021. Consumer Confidence has started the new year 12.9pts above the 2020 weekly average of 96.0 and is 2.7pts higher than the first week of 2020 (106.2).
2020 post-Christmas sales to bounce
Roy Morgan Research projects strong post-Christmas sales across Australia, with the exception of Victoria:
Roy Morgan’s annual post-Christmas retail sales forecasts conducted in conjunction with the Australian Retailers Association (ARA) project Australians are set to spend $19.46 billion across retail stores during the post-Christmas trading period, an increase of 3.9% from a year ago.
The post-Christmas sales are expected to have a slightly higher rate of growth than the pre-Christmas sales with the Australian economy continuing to recover and indicators such as the ANZ-Roy Morgan Consumer Confidence continuing to increase – now at 109.3, up 19.1pts (+21.2%) since August 29/30, 2020.
The ABS Retail Sales data for October showed seasonally adjusted sales of $29.55 billion, up 1.4% on September and up a strong 7.1% on a year ago. The stronger than expected result for October has now boosted forecasts for pre-Christmas sales by over $440 mil
Country: Australia Source: Australian Retailers Association/ Roy Morgan. These forecasts are for the seasonally adjusted spending during the post-Christmas period of December 26, 2020 â January 15, 2021.
Roy Morgan’s annual post-Christmas retail sales forecasts conducted in conjunction with the Australian Retailers Association (ARA) project Australians are set to spend $19.46 billion across retail stores during the post-Christmas trading period, an increase of 3.9% from a year ago.
The post-Christmas sales are expected to have a slightly higher rate of growth than the pre-Christmas sales with the Australian economy continuing to recover and indicators such as the ANZ-Roy Morgan Consumer Confidence continuing to increase – now at 109.3, up 19.1pts (+21.2%) since August 29/30, 2020.