Business indicators highlight two speed economy

Submitted 11/09/2011

Migration for Business Growth

 

Business indicator figures fro th ejune quarter released by the Australian Bureau of Statistics reveal some positive news for local business.

The data shows gross profit in Australia increased 6.7 per cent (seasonally adjusted), while wages and salaries increased by 2.3 per cent.

Industry sectors with the largest increase in sales of goods and services included electricity, gas, water and waste services, while financial and insurance services were amongst those with the largest decreases.

South Australia experienced a 0.9 per cent increase in sales of goods and services and a wage increase of 1.0 per cent in the June quarter.

Business SA Chief Executive Officer, Peter Vaughan, said that the indicators reflected the pressure being felt by local business.

"These business indicator figures reveal our ongoing two speed economy, with some areas of the economy doing well while others are struggling," said Mr Vaughan.

"The economic environment in South Australia has improved slights, but our key business indicators remain below the national average.

"The rise in sales of goods and services was the smallest of all states in the country, highlighting that weak consumer demand is still a significant issue.

"While just over half of the fifteen industry sectors recorded an increase in the sales of goods and services, the significant increase in the mining and electricity, gas and water sectors were influential in the overall sales of goods and services, and gross operating profits.