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5250.0 - Australian Business Expectations, Mar 1997  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 26/03/1997   
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  • Business expectations positive (Media Release)

MEDIA RELEASE

March 26, 1997
Embargoed: 11:30 AM (AEST)
40/1997

Business expectations positive

Businesses are expecting increased sales of 1.6 per cent and profits to rise by 7.8 per cent in the June quarter 1997, according to the latest Business Expectations Survey released today by the Australian Bureau of Statistics.

Large businesses expect an increase in profits of 14.9 per cent, while small businesses expect an increase of 4.2 per cent and medium sized businesses expect an increase of 3.0 per cent.

Total expenses are expected to rise by 1.0 per cent.

For the June quarter 1997, selling prices are expected to rise by 0.3 per cent, which is the lowest projected rise of any June quarter since the survey commenced in 1993. Businesses expect capital expenditure to increase by 3.4 per cent, while employment is not expected to change.

The ABS also reported on medium term business expectations. Sales for the March quarter 1998 are expected to rise by 2.9 per cent compared with present levels. Businesses in the Finance and insurance industry expect an increase of 4.3 per cent, with those in the Manufacturing industry expecting an increase in sales of 3.6 per cent and those in the Mining industry expecting an increase of 3.5 per cent.

Profits are expected to rise by 12.2 per cent compared with the present, with the Wholesale and Manufacturing industries expecting the strongest growth. Capital expenditure is expected to rise by 3.2 per cent, while employment is expected to rise by 0.5 per cent.

For the March quarter 1998, expectations of sales and profit for medium and large businesses are more optimistic than for small businesses.

Details of short and medium term business expectations are in Australian Business Expectations, June quarter 1997 and March quarter 1998 (cat. no. 5250.0) available from ABS bookshops.

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