PIAA report shows drop in business confidence

On net balance basis respondents from most states reported reduced levels of orders and production during the December 2008 quarter. The most pessimistic state is Western Australia with a net balance of 54.6 per cent followed by Queensland with a net balance of 52.6 per cent.

Also, respondents from South Australia reported the highest utilisation rates with 83.3 per cent of respondents operating at capacity utilisation levels of 70 per cent or more, followed by respondents from Queensland (73.7 per cent), Western Australia (72.7 per cent), Victoria (63.6 per cent), Tasmania (60 per cent), and New South Wales (54.8 per cent).

The report also outlined that Average selling prices were reported to have fallen by a balance of 0.9 per cent. Meanwhile, cost pressures continued to increase with a balance of 82.9 per cent of respondents reporting increased material costs, the highest ever recorded net balance.

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