Fed: New survey shows more businesses tip profit falls

AAP General News (Australia)
12-05-2000
Fed: New survey shows more businesses tip profit falls

A new survey shows one in three businesses expect profits to fall in the three months
to December.

The Australian Chamber of Commerce and Industry and Westpac survey shows business confidence
fell sharply in the December quarter.

It shows businesses expect high fuel prices, interest rates, and the weak currency
to take their toll on profits.

For the first time in 10 years the survey has also revealed that the number of businesses
expecting a fall in profits outnumbers those expecting higher returns.

But the survey also shows export growth is expected to remain strong, taking advantage
of the lower Aussie dollar.

ACCI chief executive MARK PATERSON says the results are disappointing although conditions
are expected to improve next year.

AAP RTV kmh/daw/hn/rt

KEYWORD: INDUSTRY (CANBERRA)

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