Business confidence turnaround signals beginnings of strong growth

Business confidence in August was at its highest level since December 2014, according to our seasonal adjustment of ANZ’s Business Outlook survey. This data shows that firms are experiencing favourable business conditions now (business activity is at its highest seasonally adjusted level since November 2014) and are preparing for further expansion through hiring and investment. Although stronger economic growth has been anticipated for some time, these results are some of the first signs that firms have enough confidence to significantly increase their capacity for the year ahead.