Qld business confidence is steady amid prices rises and strong employment
September 03, 2012
Significantly more Queensland businesses reported increases in the prices they charged during the quarter. Businesses also reported slight drops in employment and capital expenditure, along with moderate increases in sales and profitability.
Despite the reduction in employment figures, Queensland small and medium businesses recorded the highest performance in employment of any state or territory. Report author, Christena Singh, said that while Queensland business confidence levels were marginally below the national average, nearly 5 in 10 businesses had a positive outlook for the year ahead.
“Overall 48 per cent of Queensland businesses say they are positive about prospects for their business over the next 12 months, with a further 33 per cent reporting a negative outlook,” she said.
“Those businesses with concerns say the main reason they are worried is that people are not spending.
“While there’s no doubt that some businesses are facing tough conditions, there are signs that business expects most conditions to improve in Queensland over the next 12 months, however employment expectations in both the short term and the year ahead have dropped.”
Businesses in Queensland are expecting significant increases in sales in the next quarter along with a jump in profitability, however they are expected to increase their prices to achieve this.
Those businesses in Brisbane are significantly more confident than businesses in the regional areas of Queensland.
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