Business conditions are starting to turn the corner but positive news is taking time to filter through, according to the September quarter 2014 ACCI (Australian Chamber of Commerce and Industry) Survey of Investor Confidence.
The readings on indexes for conditions, sales and profits in their own businesses’ all showed significant improvement in the quarter as did expectations for the quarter ahead.
Businesses appear to be steadily absorbing spare capacity and getting closer to the point where expansion through hiring and investment will start to take place in earnest.
Kate Carnell, CEO of ACCI, says the survey results show that trading conditions appear to be turning the corner after a difficult period for Australian businesses.
“It is heartening to see businesses reporting their own sales and profits are starting to improve and importantly, they expect this to continue in the next three months,” she says.
“However, up to this point actual sales and profits have not been meeting expectations over the last six months – hopefully this will change in the next six months.”
She says businesses are still concerned about prospects for GDP growth and overall business investment, the unemployment rate and inflation.
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