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RATE RISE THREAT NOT DENTING AUSTRALIAN BIZ CONFIDENCE: SURVEY.
CANBERRA, Aug 1 Asia Pulse - The threat of an interest rate rise is not denting the business sector, with a new survey showing confidence at almost an all-time high.
The Australian Chamber of Commerce and Industry-St George business expectations survey showed a sharp increase in expected conditions, sales profits and investment.
In positive news for the Reserve Bank, the survey also found wages growth declining in the past three months, with downward pressure also on selling prices.
However, profit growth is tipped to slow while there are also signs of a slowdown in employment growth.
Chamber chief executive Peter Hendy said the survey showed the strong performance of the economy.
"The Australian economy remains on track and the rate of investment confirms that conditions should continue to improve, especially as the investments being made now come on-line and provide output and jobs," he said.
The survey found all businesses - small, medium and large - expect business conditions to improve over the coming quarter.
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