Business recovery expectations mixed
Expectations of an employment and business recovery in the country is mixed, with only 4 per cent of businesses expecting to increase staff numbers in the coming quarter, according to a Dun and Bradstreet national business expectations survey.
Eighteen per cent of firms plan to increase employee numbers while 14 per cent of businesses plan to cut staff numbers simultaneously.
However, 30 per cent of businesses expect a rise in profits, while 26 per cent of firms expect an increase in sales, according to the survey. The wholesale sector has the highest expectations, with 32 per cent of executives expecting profits to rise. However, only 3 per cent of retail executives expect a rise in profits in the December quarter.
Businesses also continue to expect low consumer demand, with only 4 per cent of businesses expected to increase their stock of goods. However, 19 per cent of firms overall intend to increase prices to their existing products.
Forty per cent of businesses believe the slow growth in demand for their products will stop growth in the coming year.
Eight per cent of firms expect an increase in capital investment over the quarter.
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