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Business confidence in Australia highest it has been for seven years!

  1. VacationAustralia profile image82
    VacationAustraliaposted 6 years ago

    Today it was announced that business confidence in Australia is up again. Why would it be this high? I could understand if it was above last years dreadful performance, but this seems a bit over the top to me.
    What do others think?

  2. travelespresso profile image82
    travelespressoposted 6 years ago

    Hi Vacation Australia.  I think its a bit over the top too.  Tell that to the people looking for jobs and to those in employment agencies - they are all still hurting big time.  I understand that employment is a lagging indicator but its going to be awhile until that picks up and that is one of the tests.

    1. VacationAustralia profile image82
      VacationAustraliaposted 6 years ago in reply to this

      Hi travelespresso. It does seem a bit much doesn't it?
      The employment figures look better at first, but closer scrutiny indicates that this lag is likely to be here till next June. smile

  3. easyspeak profile image79
    easyspeakposted 6 years ago

    That's because China is continuing to boom and Australia does tons of business with China.  Maybe that's why Australia isn't dieing to sign a new climate change treaty?  Without China, Australian confidence plummets.  What do you think?  I think so.

  4. Pr0metheus profile image60
    Pr0metheusposted 6 years ago

    I just got back from vacation in Australia.  The Aussie dollar is STRONG right now, almost a 1 to 1 exchange rate with the US dollar (and everything is worth twice as much).  I'd assume that easyspeak is right about the Australian relationship with China, although I don't think that has anything to do with the climate change treaty.  I've seen the debates over there lately, and honestly I don't think the "green" trade is a good thing. It is just another money bubble that is going to bust.

  5. 0
    Audreveaposted 6 years ago

    Australia is doing very well and we really haven't taken the same hit as much of the rest of the world. Our banking system is really highly regulated (seemed a bit much until everything hit the fan).

    We have evaded recession - but interest rates are high and we've definitely been credit crunched.

    I never believe employment stats b/c they never truly consider how many people are working casual jobs and part time when they'd much rather have a full time job. If it's a job, it counts.