More interesting was that the forecast for the coming quarter declined to the lowest index level since the September 2013 quarter forecast. Quite possibly a state election during the month may have had some influence on survey results.
This is not the way QMB do their graphs but I prefer my method given the poor historical correlation between the actual and forecasts. Perhaps the two lines could converge and cross over yet?
The survey results for the Queensland economy and outlook have also been trending down since the September quarter 2013. There is some variation between the regions and in FNQ it was noted that trading conditions had finally resurfaced into positive territory on the index although the outlook for the coming March quarter was more subdued.
Commentary also at Conus: Master Builders Survey of Industry Conditions