Home / Knowledge / News / Economic performance to be stronger during next 12-months
Economic performance to be stronger during next 12-months
11
Feb '08
The latest Visa-VECCI Business Trends and Prospects Survey shows that both the short-term national and state economic outlook have declined slightly as the drought lingers on and the higher Australian dollar and interest rates bite.

VECCI's Chief Executive Officer, Mr Wayne Kayler-Thomson, says the survey of a cross-section of Victorian businesses taken in mid-December 2007 revealed that only 17 percent of those surveyed anticipate that Australia's economic performance will be stronger during the next twelve months, down from 26 percent in the September quarter 2007 survey.

Fifteen percent of surveyed businesses believe the State economy will experience stronger growth during the next twelve months, down from 20 percent in the September quarter survey.

“Trading conditions improved during the December quarter, with improvements in general business conditions, sales, exports and employment, as well as a small increase in profitability”, says Mr Kayler-Thomson.

With the effects of the drought continuing over Spring and the Australian dollar at record levels, metropolitan survey respondents generally reported stronger trading conditions than their regional counterparts.

However, metropolitan survey respondents were less optimistic about the outlook for both the Australian economy and the Victorian economy than their regional counterparts, reversing the sentiment indicated in the previous quarterly survey.

“The further reduction in overall business confidence is a warning bell to State and Federal Governments that business needs the right economic climate to continue to invest.

Attention needs to be paid to measures that encourage business investment and productivity growth, such as lower taxes and charges, cuts in red tape, a realistic industrial relations framework and improved infrastructure.

“Delays in vital capacity-building and inflation-busting projects such as the Port Phillip Bay Channel Deepening Project will only serve to further damage business confidence”, says Mr Kayler-Thomson.

Victorian Employers' Chamber of Commerce and Industry


Must ReadView All

Japan’s JICA promoting energy-saving devices in Bangladesh

Apparel/Garments | On 21st Feb 2018

Japan’s JICA promoting energy-saving devices in Bangladesh

The Japan International Cooperation Agency (JICA) is promoting use of ...

China’s JD.com announces financing pacts for JD Logistics

Textiles | On 21st Feb 2018

China’s JD.com announces financing pacts for JD Logistics

China’s largest retailer JD.com Inc recently announced it has entered ...

Courtesy: Indorama Ventures

Textiles | On 21st Feb 2018

IVL 2017 revenue up 17% y-o-y to $8,438 million

Indorama Ventures Public Company Limited (IVL) has reported revenue...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

February 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search