CCIQ Suncorp Pulse Survey of Business Conditions
The Suncorp-CCIQ Pulse Survey (Pulse Survey) of Business Conditions is the largest survey of the state’s 438,000 small and medium-sized businesses and serves as a leading indicator of sentiment across Queensland’s diverse business community.
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General business conditions
Business conditions returned the lowest reading on record for the second consecutive quarter. Low consumer demand and sentiment.
Sales declined reflecting the subdued levels of consumer confidence and spending in the economy. Business anticipates sales and revenue to improve over the March quarter.
58% of all businesses reported costs increases across the areas of rent, insurance, electricity and other utilities.
Over one-half of businesses reported a deterioration in their bottom lines. Lowest profitability reading in a decade. A lack of economic demand in the economy, rising labour and operating costs contributing to subdued results.
Businesses decreased their staffing levels resulting in a five-year low (since March 2015). Hiring intentions of businesses are expected to remain soft into the March quarter. Operating costs to ease over the March quarter.
Regional Queensland and large businesses recorded weaker capital expenditure as the slowing economic demand and drought impacts on business confidence to invest.