Sensis has some bad news about their survey of business confidence in the ACT:
The ACT has recorded the largest fall in business confidence among small and medium businesses of any state or territory over the past quarter, with confidence now below the national average.
The November Sensis Business Index results show confidence levels among ACT SMEs dropped 31 percentage points in the August-November quarter, reversing the strong gains in confidence reported in the previous quarter.
Report author, Christena Singh, said that confidence levels in the ACT were now lower than at any time since February 2009.
“Businesses are concerned that people in the ACT are not spending,” she said.
“To put this in context, concern about lack of work or sales is the prime concern raised by SMEs across Australia and is currently at its highest level in the history of the Sensis Business Index.”
The last quarter saw lower results across most indicators, with ACT businesses recording the lowest sales, wages, profitability and prices performance indicators of any state or territory.
ACT businesses reported a 12 percentage point drop in the sales indicator during the quarter, making it the lowest performing state or territory for this indicator. SMEs also reported a 17 percentage point drop in the profitability indicator.