Aussie businesses still under pressure
Despite an improved economic outlook, Australian businesses are still feeling the effects of the global financial crisis, a business survey shows.
The Australian Chamber of Commerce and Industry (ACCI)-Commonwealth Bank business expectations survey for the September quarter released on Tuesday shows business conditions at contractionary levels.
While the business condictions index jumped up to 47.1 points in the three months to September, from 40.4 in the June quarter, it is still below the 50 point level that seperates expansion from contraction.
According to ACCI director of economic and industry policy Greg Evans, Australian businesses are still under pressure.
“There is no doubt things aren’t going gangbusters in Australian business,” he said.
“Business conditions over the last three month period still shows that all the key measurements of sales, of profitability, or investment and employment are still at contractionary levels,” he added.
Despite an improved economic outlook, Australian businesses are still feeling the effects of the global financial crisis, a business survey shows.
The Australian Chamber of Commerce and Industry (ACCI)-Commonwealth Bank business expectations survey for the September quarter released on Tuesday shows business conditions at contractionary levels.
While the business condictions index jumped up to 47.1 points in the three months to September, from 40.4 in the June quarter, it is still below the 50 point level that seperates expansion from contraction.
According to ACCI director of economic and industry policy Greg Evans, Australian businesses are still under pressure.
“There is no doubt things aren’t going gangbusters in Australian business,” he said.
“Business conditions over the last three month period still shows that all the key measurements of sales, of profitability, or investment and employment are still at contractionary levels,” he added.
