Almost one quarter of Australia's businesses have decreased or cancelled their investment plans in the last three months, and the two biggest factors weighing on their minds are uncertainty about the future and concerns about future demand.More than a third of businesses expect to struggle financially over the next three monthsNew capital expenditure fell by 5.9 per cent in the June quarter, after dropping 2.
According to a separate ABS survey out today, there was also a large contraction in new private capital investment in the June quarter , which coincided with stage 3 restrictions across the country in April and May and the record-low business confidence experienced at that time.
...but the purchase of two Chinese built submarines will rejuvenate the economy 😡
Everyone talks about Covid seeing business and that failing. It is not Covid it is the government shutting everything down.
MCRNBM bad businesses are also cancelling workers as fast as they can under cover of covid19 but, shareholders well, that's a different thing, soak them big time auspol nswpol
My favourite restaurant closes permanently next week
It's easy to be unsympathetic to big (& small) businesses & write off the economy as a faceless thing. Except it's real people too. Lockdowns = impacted/lost businesses, jobs, long term poverty, mental health issues, etc. Many more lives now ruined by lockdowns than Covid deaths.
If the big business leeches weren’t stealing so much of the subsidies, perhaps there’d be help for those struggling. Though I doubt it. The system is working just how ScottyFromMarketing failed to design it. Money for me, not for thee. Plebs. auspol