Positive sentiment continues amongst Australian businesses
The risk of rising inflation impacting the Australian economy appears to be declining, with only a net seven per cent of Australian firms expecting to raise their prices in the March quarter of 2010. In other positive signs for the business outlook expectations for sales and profits also improved.
These findings are from the latest D&B Business Expectations Survey, which examines expectations for the 2010 March quarter following the Christmas trading period.
Expectations for selling prices have fallen by 68 percentage points since the March quarter of 2009. One in five (19 per cent) firms expects to raise prices in the March quarter, while 12 per cent expect to lower prices. Wholesale executives have experienced the most significant drop in expectations for increased prices, falling 80 percentage points since the March 2009 quarter to a net index of minus three. Fifteen per cent of firms expect to increase prices and eighteen to reduce prices within the wholesale sector in March quarter 2010. In the retail sector expectations of selling prices have dropped eleven percentage points to a net eight percent compared to a high of a net seventy six percentage points in the March quarter of 2009. The expectation of a reduction in selling prices comes as the Reserve Bank (RBA) implements measures to ensure underlying inflation concerns are managed.
The outlook for sales and profits expectations have also continued to improve. The sales index has risen a further four percentage points since the previous quarter. This is on top of a 50 percentage points rise in the previous quarter, the largest one-quarter rise in the history of the survey. Forty six per cent of firms expect an increase in sales and sixteen per cent a decrease in sales in March quarter 2010. The retail sector’s expectations rose to a net 40 percentage points, almost doubling expectations from the December quarter (a net 24 percentage points).
The profits index has also made a minor further advance, with twenty eight per cent of executives now anticipating profits will increase in the March quarter. Executives in the retail sector have the highest expectations, with 35 per cent expecting profits to increase and 19 per cent a decrease. Expectations in the non-durables manufactures sector also remain high, rising by 49 percentage points since the September quarter. Twenty six per cent expect an increase in profits and fifteen per cent a decrease within the non... Next Page
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