Business confidence bounces back in central Queensland

BUSINESS confidence has surged onwards and upwards in central Queensland, with the region among those leading the way in the state.

Confidence within businesses has jumped 19 percentage points, according to the Westpac Group CCIQ Pulse Survey of Business Conditions for the September quarter.

CCIQ central Queensland regional manager Victoria Bradshaw said the surge in confidence had been reflected across the state, but CQ had one of the most significant jumps.

"There is no doubt the end of the uncertainty surrounding the federal election played a big part in this resurgence, and the return of a majority government with a significant mandate added to this," Ms Bradshaw said.

"Even more pleasing in CQ was the fact other key indicators, such as sales and revenue and general business conditions, matched the jump in confidence.

"Despite increasing by 5.6 points, profitability remained the lowest in the state, which shows the jump in confidence has not yet been translated into actual performance."

State-wide, the confidence index for the Queensland economy rose 12.9 points to 63.3.

KEY STATISTICS:

  • Business confidence strengthened significantly over the September quarter in the central Queensland region, increasing 19 percentage points to 62.0.
  • Increased indicators were recorded for general business conditions, sales/revenue and profitability, however all remained below the state averages.
  • Profitability in the central Queensland region is the lowest in the state, despite increasing 5.6 percentage points from the June quarter.


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