ANZ Consumer Confidence released this morning suggests that the consumption side of the domestic economy is going to improve in the months ahead after the Budget induced drought.
It’s a theme that business is clearly picking up on, according to today’s Dun and Bradstreet Business Expectations survey which has the sales outlook picking up to a 14 year high of 45.8.
To put that number in context, 53.2% of respondents expect increased sales during the first quarter of 2015 while just 7.5% expect declines.
Dun and Bradsteet said that:
The increase in sales expectations beyond the boost expected in the Christmas period underscores the resilience in the business sector. D&B’s survey has also found that 71 per cent of businesses are more optimistic about growth in the next 12 months compared to the previous year; the strongest response recorded in 2014.
That’s not yet the “animal spirits” RBA Governor Glenn Stevens is looking for but it along the path to get there.