The confidence levels of Australians executives are continuing their upward trend for 2010 with sales, profits and capital investment indices all improving. The capital investment and sales index have both reached their highest points in six years and the profits index its highest point in five years.
These findings from the latest Dun & Bradstreet Business Expectations Survey for the June quarter indicate a dramatic turnaround in the expectations of Australian business as compared to the lows of June 2009.
The expected sales index rose five points to 33 exceeding the strong positive level of the two previous quarters. The sales index is now the highest level in six years and is up 81 points on the trough of the June quarter 2009. Forty five per cent of firms expect an increase in sales and 12 per cent a decrease in sales in June quarter 2010. Wholesale executives have the highest profits expectations with 49 per cent expecting an increase and 10 per cent a decrease. This follows on from positive sales figures from the Australian Bureau of Statistics (ABS) that indicated a 7.5 per cent (seasonally adjusted) improvement in the sales of goods and services for the wholesale sector from December 08 to December 09 quarter.
In further good news Australian firms’ outlook for profits expectations has also continued to improve – the index of 18 for June quarter 2010 is the highest level in five years. Twenty nine per cent of Australian executives surveyed now anticipate profits will increase in the June quarter and only 11 per cent expect a fall. Executives from the wholesale sector have the highest profits expectations with 33 per cent expecting an increase and just 10 per cent a decrease. Again this comes on the back of ABS figures showing a slight improvement of 2.2 per cent (seasonally adjusted) in company gross operating surplus for the wholesale sector from the September to December quarter of 2009.
Capital investment expectations moved up eight points from the previous quarter reaching the highest level in more than six years, twenty five percentage points higher than the June quarter of 2009. Seventeen per cent of firms surveyed expect to increase capital investment, while just two per cent are planning to decrease spending in this area. Wholesalers have the highest of capital investment expectations (an index of 19) and retailers the lowest (an index of 10). The growth in capital inves... Next Page
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