59 per cent of businesses are concerned about the impact of the Federal Budget on their operations.
Despite this, the manufacturing sector has raised its outlook for profits and sales to 10-year highs, with 46 per cent of manufacturers anticipating higher profits in the third quarter and 57 per cent expecting increased sales. In addition to 62 per cent of respondents indicating confidence about growth this year, the survey reveals that business expectations have remained higher than last year despite marginal quarter-on-quarter declines in the sales, profits and selling prices indices.
“Despite concerns from business about the potential impact of the budget, expectations are, on balance, favourable for the next three months,” said Stephen Koukoulas, Dun & Bradstreet’s economic advisor.
