Australian business conditions, confidence stay lacklustre in Jan

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Read more at The Business Times.

"While there has been no significant deterioration in overall terms the survey continues to suggest very little to no growth in the private sector."

The impact of the bushfires that intensified steadily through December, hurting tourism and spending at the peak of the holiday period, was felt in the most populous states of New South Wales and Victoria. "Looking forward, businesses themselves do not anticipate a material improvement with forward orders still weak and capacity utilisation having fluctuated around its average in recent months," Mr Oster added.Mr Oster said there was a risk that ongoing weakness in business activity could result in a pull-back in hiring intentions in a disappointing outcome for the country's central bank which is expecting unemployment to fall further.

The Reserve Bank of Australia cut interest rates three times last year to a record low 0.75 per cent to help revive growth and inflation. The cuts helped boost home prices and sent the jobless rate sliding to 5.1 per cent. The RBA kept rates unchanged last week at its first meeting of the year and signalled steady policy in the period ahead.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

honestbee suspends habitat business as traffic dives 60%honestbee suspends habitat business as traffic dives 60%
Source: BusinessTimes - 🏆 15. / 51 Read more »