New capital expenditure was reported to have fallen by 27.4 per cent during the September quarter compared to the previous quarter outcome. With new industry investments totaling $388m for the 12 months to September 2010, this outcome represents a 9.6 per cent deterioration on the previous year.
Printing industry sales recorded a modest fall in the September quarter registering a 0.5 per cent decline against the previous quarter. For the 12 months to September total printing industry sales stood at $8,631m representing a decline of 1.4 per cent on the previous period’s outcome.
Printing industry pre-tax profits reported a sharp fall during the September quarter.
The Australian Bureau of Statistics (ABS) has released the National Accounts data showing that the printing industry growth rate fell in trend terms during the September 2010 quarter for the third consecutive quarter, resulting in an annual decline of 0.3 per cent.
Hagop Tchamkertenian, national manager for policy and government affairs at Printing Industries said the official data for the industry portrays a weaker economic picture than that portrayed by the Association’s own internal research.
He says, “Whilst our internal data extracted from the Printing Industry Trends report shows modest reported improvements in production and sales for the September quarter, the official data is indicating the reverse – weakness.”
Tchamkertenian also highlighted the fact that reported growth rates for the printing industry and the Australian economy headed in the opposite direction during the September quarter.
Looking forward Tchamkertenian said that the economic outlook was increasingly becoming uncertain.
“There are a number of internal and external influences which will shape the industry’s economic fortunes over the next year or so. Changes in interest rates, industry costs and ongoing industry structural changes will provide both challenges and opportunities for printing industry participants.”
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