Bringing back the Survey of Business Conditions and Sentiments
The ABS is expanding its data offerings to better understand the economic impacts of the supply chain disruptions resulting from the closure of the Strait of Hormuz.
Dr David Gruen AO, Australian Statistician said, “The ABS can move quickly when Australia needs data.
“From early May, the ABS will ask some businesses to fill out a short, online survey called the Survey of Business Conditions and Sentiments (SBCS).
“This will ask about changes to revenue, costs, workforce, investment and supply chain disruptions.
“Results will be published on our website in late May to offer an up-to-date snapshot of business conditions to inform Australians’ decisions with reliable and independent information.
“The survey can be done in 5 to 10 minutes online, and participation helps us understand the challenges Australian business are experiencing right now.”
The ABS is also expanding other data products for people to understand Australia’s current economic conditions.
“We’re bringing forward our Monthly Household Spending Indicator, plus offering extra data through the ABS DataLab.
“We will also be doing ad-hoc detailed analyses on our data insights as the situation develops and our economy responds, just like the fuel analysis we published alongside our CPI release last week.”
Dr Gruen said the ABS was committed to increasing its data offering to give governments and the community reliable information during this period of significant uncertainty.
“During COVID-19, we rapidly delivered a range of new surveys, including the SBCS, to understand how the pandemic affected both households and businesses.
“Bringing back the SBCS reflects that same commitment to delivering timely and accurate data when conditions are changing quickly and good information can make a real difference.”
The ABS thanks businesses for their time, as their input helps Australians understand how businesses are operating in a changing economic environment.
More information about participating in this survey is available here.
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