Business Confidence is up, 2018 is Time to Buy a Business!

The Westpac-Melbourne Institute Index of Consumer Sentiment has risen 1.8% in Australia to a 4 year high, indicating a sharp improvement in confidence about the economic outlook. Paul Dales, Chief Economist at Capital Economics says “This adds to the recent run of encouraging news about the health of the household sector.” This revival in consumer confidence is a further sign that the domestic economy is recovering from the mining slowdown. Likely contributors to the improved domestic consumer sentiment are synchronised global economic recovery and record low interest rates, improving asset prices including shares and housing. This is great news for small business in Australia.