CCIQ: Confidence levels remain low in the lead up to Federal Election

THE RESULTS of the Suncorp CCIQ Pulse Survey for the March Quarter 2019 are in - and confidence in the Queensland and national economies remains relatively unchanged amidst a backdrop of uncertainty.

Responses reflected a mood of frustration around political and financial considerations weighing on the Queensland economy, a Chamber of Commerce and Industry Queensland (CCIQ) spokesperson said.

"The data analysed indicated that the outcome of the May Federal Election, a potentially more punitive industrial relations framework, elevated costs, tighter margins, coupled with state government frustrations amidst a backdrop of soft operating conditions are key areas of focus for small businesses," the spokesperson said.

Key takeaways from the Pulse report include:

• Business sentiment surrounding both the Queensland and Australian economies remained largely unmoved.
• Over two in five respondents expect weaker economic conditions in the state economy over the next twelve months - which is a weaker outlook a year ago.
• General business conditions have weakened since the December survey, with a greater proportion of small businesses reporting weaker conditions.
• Slight moderation to increases in labour and operating costs.
• More businesses indicated sales and revenues had decreased during the quarter.
• The proportion of businesses reporting a decline in employment levels increased, as did the proportion indicating their intention to invest in new capital expenditures.

The forecasts measurements for the June quarter, while far from elating, tend to reflect the expectation of less pessimistic businesses conditions across each of the forward indices.

www.cciq.com.au

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