Business confidence strikes 11-year high

By AAP

Dun & Bradstreet economic adviser Stephen Koukoulas said the surge in business confidence should boost economic growth later in the year. "The continued resilience in the outlook for employment suggests that the pace of job creation will move to a point where the unemployment rate edges lower over the next couple of quarters," he said. "The dip in expected selling prices indicates that the inflation rate probably peaked in the June quarter and will ease to the middle of the Reserve Bank of Australia's two to three per cent target band.

Dun and Bradstreet chief executive Gareth Jones said there has been a steady improvement in business confidence since the end of 2013. "While there has been a recent pullback in the profits and capital investment indices, there's a clear upward trend developing this year and all of the surveys measures are above their 2013 level," he said. "The sales outlook is particularly solid through to the end of the year, providing encouragement for those businesses concerned that the federal budget had knocked the wind out of consumer confidence and spending.

Read more here: Business Spectator

    

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