Expectations for selling prices have risen by nine percentage points to an index of 18, the first rise in five quarters. One in four (24 percent) firms expects to raise prices in the June quarter, while six per cent expect to lower prices. This is a further indication that executives believe that the average Australian will be better off by the June quarter and therefore in a better position to pay slightly more for their goods and services. However, durables manufacturers have further reduced their selling prices expectations by a further two points to an index of 10 for June quarter 2010, their lowest prices expectations since June quarter 1999.
Employment expectations for June quarter 2010 are nine percentage points higher than the March quarter of 2010 reaching an index of 9. Fifteen per cent of firms are planning to increase staff levels and six per cent to reduce employee numbers. These figures are now a 35 per cent improvement on the June quarter 2009 expected employment index figure of minus twenty six percentage points. All sectors now have positive expectations for growth in employment numbers. Retailers have the highest index of a net 13 with 18 per cent expecting to increase employment and five per cent expecting to decrease staff numbers.
According to Dun & Bradstreet’s CEO Christine Christian, the expectation of improved sales and profits is an indication that Australian executives believe that the worst of the GFC is now firmly behind them.
“Not only are sales and profits levels improving from the lows of mid 2009, they are now reaching levels of confidence not seen since the middle of the decade,” said Ms Christian.
“The return in confidence in the majority of key indicators such as sales, profits and employment and supporting indicators such as capital investment and inventory demonstrates a buoyancy not seem for some time.
"The critical factor now is how Australian executives respond to this environment. We need to meet these expectations to maintain the growth momentum of the December quarter if we are to continue to perform well. With reduced support from the Government’s economic stimulus package combined with the impact of rising interest rates the months ahead may still hold some challenges.”
One in five (21 percent) executives report that they have significantly less access to credit in the last quarter and seven per cent slightly less access. Only 19 per cent report much greater or moderately better access to credit. Fifty one per cent report no change in their access to credit in the last quarter. Retailer... Next Page
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