Boost to business confidence

QUEENSLAND business has got its mojo back and reported optimism for the first time in four years, according to the latest Suncorp CCIQ Pulse survey.

The quarterly survey pinpointed the upcoming Commonwealth Games, political stability from a majority government and strong commodity prices as the reasons for the mood swing.

CCIQ general manager of advocacy Kate Whittle said the confidence was “across the board’’.

She said at the beginning of the quarter business was hamstrung by election speculation which created uncertainty.

“Looking forward, the Commonwealth Games is also providing a boost to confidence levels especially for tourism, retail and entertainment sectors,’’ Ms Whittle said.

Ms Whittle said while 2018 was off to a great start, there were some areas of concern that could erode confidence if not managed carefully.

“Rising business costs, particularly energy prices, continue to be a major pain point,’’ she said.

Suncorp chief economist Steven Milch said Queensland was benefiting from a stronger outlook for the global economy.

“More broadly, investment in the non-mining sector is now rising and mining investment has flattened out after falling for the past five years,’’ he said.