In the December ANZ Business Outlook Survey headline business confidence lifted meaningfully. That said, it remains in the red, with a net 24% of respondents reporting they expect general business conditions to deteriorate in the year ahead. More importantly, firms’ perceptions of their own activity rose 6 points to a net 14% expecting a lift. The construction sector continued to be the most optimistic at +22%. The retail sector remains the least positive (1.9%). Turning to the detail: • A net 4% of firms are expecting to lift investment, up 8 points. • Employment intentions rose 5 points to +7%. • Profit ... (full story)