Signs of Global Financial Crisis

Submitted 5/12/2008

Migration for Business Growth

Business Indicator figures fro the September quarter, released by the Australian Bureau of Statistics, shows gross profits in Australia rose 5.2 percent, wages and salaries increased by 1.4 percent.

 Whilst Mining had the largest increase in sales of goods and services, other goods and services were either stagnant or saw a decrease.

South Australia experienced a 0.6 percent increase in sales of goods and services but saw a wage decrease of 1.7 percent in the September quarter.

Business SA Chief Executive Officer, Peter Vaughan, said the increase in sales of goods and services was mainly due to the Mining sector.

"High commodity prices and the low Australian dollar contributed to an increase in sales of goods and services in South Australia," said Mr Vaughan.

"Any fall in interest rates tomorrow, and the Federal government's $10.4 billion spending package may result in higher sales and help businesses gain further confidence in the next quarter."

"Nationally we saw an increase in wage and salaries, which confirm the significance of the skills shortage across the nation."

With Christmas around the corner, we expect the economy to benefit from an expected increase on spending in the traditionally busy holiday period."