BUSINESS CONFIDENCE ON THE RISE

Written on the 2 April 2014

BUSINESS CONFIDENCE ON THE RISE BUSINESSES will be looking to take on new staff in the coming months, indicating confidence in the economy according to research by Dun & Bradstreet.

The latest Business Expectations Survey shows 22 per cent of businesses plan to hire this quarter, the highest level since the start of 2011.

Chief executive officer Gareth Jones (pictured) says despite recent announcements on job cuts, the future is promising.

“After seeing a steady pick-up in the outlook for sales, selling prices and profits from late last year, we’re now seeing employment intentions improve.

“While the official rate sits at six per cent and we’ve seen negative headline news on jobs, the outlook from businesses reveals a resilient optimism,” he says.

Employing new staff may be in preparation for increased activity, with 46 per cent of businesses expecting a higher amount of sales.

While 66 per cent of businesses expect stronger growth compared to last year.

“Last year’s soft conditions forced businesses to manage their costs closely and become more efficient in their operations.

“With confidence returning, interest rates remaining low and global conditions recovering, businesses now appear ready to focus on growth,” Jones added.

The manufacturing industry is showing strong signs of growth, with more than half of businesses surveyed expecting higher profits.

There is a similar sentiment from the finance, insurance and real estate sector, while retail has declined with slow demand and online competition impacting projected growth.

D&B economic advisor Stephen Koukoulas says the slight pull-back in profits is the only negative in the results.

“Expected sales have risen strongly since the middle of 2013 and are almost three times the 10-year average, suggesting that economic growth is poised to rise to an above trend pace when the official data for the first half of 2014 is released.

“Encouragingly, the recent gains in expected employment have consolidated at a more favourable level, and the capital investment outlook has maintained its improvement,” he says.

The positive outlook is supported by findings from the Australian Bureau of Statistics, showing 47,300 jobs were added to the economy in February.

Latest News

THE STAR'S STUNNING ANSWER TO CROWN'S BARANGAROO

THE Star Entertainment Group (ASX:SGR), not to be outdone by James Packer's Barangaroo development across the ...

BRISBANE COAL TERMINAL REOPENS AFTER SHIPLOADER REPAIR

COAL loading has recommenced at New Hope's (ASX: NHC) Brisbane terminal today after repairs to its ship loader, w...

SUPERYACHTS OFFER UNTAPPED POTENTIAL AT COMMONWEALTH GAMES

SUPERYACHT Australia has devised a strategy to attract more superyachts to Queensland and capitalise on revenue op...

GDP FIGURES A 'WAKEUP CALL' FOR PARLIAMENT

THE GDP figures are an end-of-year wakeup call for Parliament about what lies ahead for the country, according to ...

Related News

HOW MCDONALD'S AUSTRALIA REDISCOVERED ITS INNOVATIVE SPIRIT

MCDONALD'S is such a ubiquitous part of the Australian landscape today that it is easy to forget how it change...

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter