Business in Australia: expectations for the 3rd quarter
Wednesday, July 5, 2017Dun & Bradstreet recently published the Australia’s Business Expectations Survey for the third quarter. Interviews with representatives from various companies raised generally pessimistic expectations for the coming months, which, in their opinion, will be characterized by low growth prospects.
The actuals for March 2017 show a drop in business activity of 37%, which includes sales, profits and invested capital. Expectations are not reassuring; in fact, it is about a 18% drop in the coming months.
The increasing number of delayed payments and bankruptcies confirm the negative trend of this period and the coming months. Retail trade is the most critical, respondents working in this sector share pessimistic views concerning expected growth for the second half of this year.
The main reasons are the increase in online sales from foreign countries and the shortage of skilled workers able to increase the competitiveness of local companies.
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