Business Sentiment goes backwards in the September Quarter

Business Sentiment goes backwards in the September Quarter

Positive signs of returning to confidence since June have fallen away, as pessimism continues to weigh on the state’s small business sector. While the quarterly results are disappointing, the outlook is more positive as we go into the Christmas period. 

Here are some of the key takeaways of the Suncorp CCIQ Pulse Survey:

·        National sentiment around economic conditions has declined as Australia’s major trading partners contend with economic troubles relating to trade and political uncertainty at the Federal level.

·        Economic sentiment in Queensland dropped 2.3 points from the June quarter to 45.8. Confidence in the national outlook has also dropped 5.8 points to a dispirited level of 49.

·        Serious concern was expressed for potential increases in interest rates and deteriorating credit conditions after the Royal Commission into the financial services industry.

·        Business sentiment in the metropolitan regions is more upbeat compared to regional areas.

·        Some businesses are optimistic toward an improvement in competitiveness associated with a lower Australian Dollar, increased sales and a growing resources sector in Central Queensland.

The Suncorp CCIQ Pulse Survey helps us inform our advocacy efforts and tell us more about the issues affecting your business. It is the largest survey of Queensland businesses and serves as a leading indicator of business confidence.

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