Business

Profits dip close to a record low

BAD NEWS: ACCI’s Acting Chief Economist Burchell Wilson releases the Business Expectations Survey.
BAD NEWS: ACCI’s Acting Chief Economist Burchell Wilson releases the Business Expectations Survey. LUKAS COCHAAP

AUSTRALIA'S peak business body has blamed Labor's opposition to the repeal of the carbon pricing scheme for continued decline in business performance.

The Australian Chamber of Commerce and Industry's latest quarterly survey of business conditions found a sharp lift in the expected performance of businesses at the same time that actual business outcomes were deteriorating.

With 50 considered a balance between positive and negative outcomes and expectations, general business conditions were rated just less than 43 in the survey of more than 2000 Australian businesses.

Sales revenue fell, labour market conditions weakened further and expectations around selling prices fell to a record low.

The index of profits fell to a miserable 35.7, the lowest in four years and close to its record low.

ACCI chief economist Burchell Wilson said there was "little evidence" of improvement in the non-mining economy.

"At the moment it is clearly still struggling to fire on all cylinders," Mr Wilson said.

"It is evident from the survey that we are yet to see the recent lift in expectations translating into an improvement in actual trading conditions.

"The improvement in confidence is therefore fragile and vulnerable to correction if these expectations continue to be disappointed."

Mr Wilson said Labor's decision to "oppose the repeal of the carbon tax is a body blow to Australian business and has the potential to jeopardise the recent recovery in sentiment".

He called on the Reserve Bank to consider further interest rate cuts.

"Inflation remains well contained and the recent appreciation of the exchange rate will make it more difficult to achieve the re-balancing in the composition of growth that is desperately needed," he said.

"If non-mining activity fails to pick up as forecast in the months ahead it (the Reserve Bank) will need to re-consider its position in February of next year."

Topics:  australian chamber of commerce carbon pricing economy



Six hideaway bars to escape winter chill

THE last season of GoT finally uttered the words we’ve been waiting six seasons to hear and now that the weather has cooled down in Brisbane, “winter is here.”

Our six art gallery picks for a creative day out

Queensland's Gallery of Modern Art always has a fun, exciting and interesting exhibition on show for the whole family to enjoy.

YOU'D be mistaken in thinking Brisbane wasn't an arty city.

Brisbane's arts and culture events centre stage

You loved the film, now you're about to love the musical. Don't miss The Bodyguard The Musical in Brisbane this July.

THE arts and culture events you don't want to miss.

Homewares stores to fulfil your Instagram dreams

No Caption

You too can become an Insta-star with these fab stores.

Date nights under $50

Nothing is more romantic than a picnic with a cracking view.

NOT every date has to cost you a bomb.

Top 10 Brisbane experiences to cross off your bucket list

Do yourself a favour and get amongst the food truck scene. Eat Street is a great place to start.

A GOOD bucket list doesn’t have to span continents or cost millions.

Six mega sporting events you need to be at this year

Don't miss all the action trackside this season.

IF THERE is one thing Brisbane does damn well, it’s play host.

'Strip conditions': Bosses apply to terminate agreement

Australian Manufacturers' Workers Union delegate Andrew Lockwood with his family at an early morning protest outside Gladstone Power Station.

Battle over worker's conditions at power station conitnues.

UPDATE: Police investigate 'dried blood' at dead man's home

IDENTIFIED: Police have identified the man found dead in a drain at Toolooa on Thursday as Michael Peter Ceremuga.

Police are appealing for assistance after this morning's autopsy.

Local Partners

Wall will provide fresh look for CBD

UNITY Bricks project to bring life back into the Gladstone CBD.


Win a $1000

GROCERY GIFT CARD!
Learn More

What to expect at Birds of Tokyo's Ipswich gig

The band will perform at the Racehorse Hotel on Friday.

BAND member Glen Sarangapany talks music, pub grub and doing shoeys

What public holidays are left in 2017

Ipswich residents will get the day off tomorrow for the show.

IPSWICH residents will get tomorrow off for the show

Caitlyn comes home to launch debut album

Gympie's Caitlyn Shadbolt will launch here debut album Songs On My Sleeve at an exclusive all-ages concert in Gympie on Friday, May 26.

Win tickets to Caitlyn's album launch

Wonder Woman is a kick-arse superhero romp

WITH so much at stake, thank Zeus that Wonder Woman didn’t fall into the same trap as its DC Extended Universe predecessors.

Everything coming to Netflix, Stan, Foxtel and Amazon Prime Video this June

Orange Is The New Black returns for another season.

Find out what's being added to our streaming services in June.

Sam Armytage and Tom Cruise? Saaaaay what?

Apparently, the answer is no.

Musical tribute to flood volunteers released

Songwriter honours flood volunteers who helped their neighbours.

Lismore songwriter Simon Thomas was moved by strangers' kindness

Karl Stefanovic's rant about Schapelle Corby 'a bit rich'

Karl Stefanovic is sick of hearing about Schapelle Corby.

Maybe he just wanted to make himself the story.

Gladstone gets cheesy with espresso bar masterclass

CHEESE EXPERT: Special guest Peter Gross shared his knowledge on everything about cheese.

'Something we could do': more food events for region

Could Schapelle be heading for Gladstone?

Australian Schapelle Corby is escorted by Bali Police at the parole office in Denpasar, Bali, Indonesia, 27 May 2017.

Schapelle's mother teases her free daughter could be Gladstone bound

New $46.7m counter-terrorism facility to be built in Wacol

Premier Annastacia Palaszczuk, pictured with Police Commisioner Ian Stewart, has announced plans to build a new counter-terrorism facility in Wacol.

The facility will be built over three years.

Home to a sex worker: Sordid history of iconic Coast shed

Milojevic Djordjevic's daughter Linda at the derelict shed on Yandina-Coolum Road.

The shed was once a liveable 'barrack'.

This is real estate's billion-dollar man

Bob Wolff at AREC with John McGrath of McGrath Real Estate.

They don’t call him the “Billion dollar man” for nothing

Man's amazing comeback from monster crisis

Pat O'Driscoll agents Penny Keating and Doug Webber sold 56 Agnes St, The Range at auction over the weekend.

NOT long ago, he sold his possessions to pay staff. Now he's back.

Report reveals progress on $319m airport upgrade

Aerials of the Sunshine Coast.Jetstar plane in front of the Susnhine Coast terminal, Sunshine Coast Airport.

Over two dozen government approvals needed for airport expansion

Ready to SELL your property?

Post Your Ad Here!