News
July 07 2010
Local Business & Consumer Confidence Uncertain
‘Following the release of the My State Financial Tasmanian Economic Index and the latest Survey of Business Expectations by the TCCI it is apparent that local business conditions remain subject to uncertainty.’ said the Executive Officer of the Launceston Chamber of Commerce, Lou Clark today.
‘Both surveys indicate that consumer and business confidence has declined in the last quarter. Both surveys were conducted post the 2010 Tasmanian State Election indicating that perhaps political instability around that period of time may have been a factor in responses to the survey. Both surveys seem to reflect a mixture of concerns about deteriorating conditions abroad, financial market turmoil and political uncertainty.’‘With the cost of doing business continuing to increase due to interest rate rises earlier this year and power increases in particular, feedback from some Launceston Chamber of Commerce members is that business conditions in some areas are tough. Inevitably these increased costs will also be passed on to the consumer.’ She said.
‘Obviously we are anxious to see that this trend does not continue and we certainly welcome yesterday’s announcement by the Reserve Bank not to increase interest rates this month as well as the improvement in exports due to the lower Australian dollar.’
Ms Clark reiterated ‘The current economic conditions further demonstrate the critical importance of stable government, healthy state finances and the development of the Government’s State Economic Development Plan.’
For more information contact Louise Clark, Executive Officer, Launceston Chamber of Commerce on 03 6331 9364 or visit the website at www.lcc.asn.au
END MEDIA RELEASE
Media Inquiries Contact:
LCC: Lou Clark ph: 0419 326 023 or 03 6331 9364
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Posted in: Press Releases