Business leaders’ confidence in the economy has slumped over the past three months, reveals The Executive Connection CEO Confidence Index, December 2019.
This quarter, CEOs across the country have demonstrated that they are feeling the impact of more than a year of stagnant economic growth, and are less optimistic about economic conditions going into 2020. While business indicators have been affected by the weak economic outlook, all indicators still remain in positive territory, indicating that while optimism has pared back it is still present.
The lack of confidence we’re witnessing is further being undermined by seemingly ineffective policy actions from the government and the RBA, uncertainty about the global economy and a persistently negative economic narrative.
As we’re starting to see economic conditions compound business behaviour, it’s now more important than ever for leaders to look to resources to help tighten business processes and outside counsel to ready their organisation and its people for what may be a trying time.
As leaders, we can learn a lot from our counterparts in various industries. Now is not the time to shy away from peer to peer support but rather tap into all the resources available to us.
Download the report to view the full survey results.
- SME CEOs are pulling back on bullish optimism
- WA the strongest state, Queensland CEOs are worried about the economy
- Monetary policy no longer seen as effective
- Global geo-political uncertainties are an ongoing concern for Australian business
- Business conditions impacted by views on economy going into 2020
Some of our media coverage
- The Australian online edition; Prioritise growth over surplus, say business leaders
- The Australian Financial Review online edition; CEOs back stimulus over surplus
- The Sydney Morning Herald online edition; Frydenberg signals reforms amid 'mega-trends' of rising debt, ageing population
- The Age online edition; Frydenberg signals reforms amid 'mega-trends' of rising debt, ageing population
- The NEWDAILY - Government spending and rate cuts struggle to lift business sector
About the CEO Confidence Index
The Executive Connection CEO Confidence Index December Quarter 2019 was conducted from 27 September – 31 October 2019 and includes 225 responses from Chief Executives and business owners around the country.
- Views about economic conditions compared to a year ago
- Expectations for economic conditions in the year ahead
- Business expectations for the next 12 months on:
− Fixed capital expenditure
− Sales revenues
− Prices for their products and services
− Total headcount
The survey also identifies the challenges and opportunities faced by leaders including business operations, leadership, talent and technology. Members are CEOs and business leaders of businesses with up to 200 employees and annual revenue of between $2 million and $100+ million per year. The results provide insight into the challenges and opportunities faced by leaders and their confidence in the Australian business environment as well as insights into key issues such as political leadership, access to funding and market conditions.