Business confidence falls from five year high
Business confidence has fallen from its five year high, while Australia's 12-month economic outlook has improved, according to the latest Sensis Business Index (SBI) survey.
Confidence among Australia's small and medium businesses (SMBs) dropped to a score of 38 for the quarter, down from 44 last quarter.
Sensis' survey reflected the views of 1,000 businesses across the country, which also revealed that three times as many SMBs (57 per cent) were confident, than those who were worried (19 per cent).
While business confidence fell, perceptions about Australia's 12 month economic outlook improved, and chalked a score of five points higher than the last quarter.
It marked the second positive economic outlook reading since December 2014.
At a state level, SMB confidence increased in Tasmania, Queensland and South Australia, while falls were experienced in New South Wales, Australian Capital Territory, Victoria, Northern Territory, and Western Australia. NSW was also the most confident state, despite a five point fall to 53.
Sensis chief executive, John Allan, said: "The national figures tell a positive story overall, but the turmoil some locations are experiencing in Western Australia (10) and the Northern Territory (9) are languishing well below the national average".
Tasmania recorded the most improved score with a 22 point jump, while Victoria suffered a drop of 15 points.
Victoria ranked below the national average amid declining sales and increased cost pressures which all weighed down on business confidence, Allan said.
In other results, business confidence in capital cities fell 15 points to a score of 35, while regional confidence rose by eight points to 43.
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