Survey shows promising economic outlook
The Australian Chamber of Commerce and Industry (ACCI) has published its Survey of Industrial Trends for the September quarter, revealing a strengthening of the key General Business Situation index.
The joint ACCI and Westpac produced survey found that manufacturing activity indicators have remained mixed, despite a more positive June quarter.
The survey found that the net New Orders and Output indicators continued to firm as predicted and projected demand and producing expected to continue to grow.
“Most other indicators have remained disappointing. While marginally firming, net Employment and Overtime Worked indicators have remained negative in the September quarter,” the study found.
Greg Evans, Director of Economics and Industry Policy at the ACCI, warned against a prematurely optimistic outlook.
"While overall there has been a welcome, if modest, improvement from most of the previous quarter's subdued results, the September quarter's Survey outcomes have remained mixed,” Mr Evans said.
“The decline in general business expectations has been reversed and actual and forward indicators for New Orders and Output are stronger. While this is encouraging, the actual and expected Employment, Costs and Prices outcomes remain disappointing.”
The full outlook can be found here