TAS: Business confidence up in Tasmania

AAP General News (Australia)
04-07-1999
TAS: Business confidence up in Tasmania

HOBART, April 7 AAP - Business confidence in Tasmania is strengthening, according to a
survey released today.

The Tasmanian Chamber of Commerce and Industry/Trust Bank quarterly survey found confidence
has continued the up-beat trend of the last quarter and the 12-month outlook for the state's
economy had moved into positive territory for only the second time in four years.

The survey covers more than 250 businesses and is regarded as the most authoritative
snapshot of business sentiment in the state.

Businesses reported a continuing improvement in general business conditions in the March
quarter.

Sales revenue improved and was expected to continue strengthening in the June quarter.

Sales growth had been subdued or negative in the March and June quarters of the previous
two years.

The 12-month outlook was the most positive for four years.

However, there were some disappointing outcomes.

Export sales declined by more than eight per cent, with no improvement expected in the next
quarter.

Nor were there signs that unemployment in the state with Australia's highest jobless rate
would improve. There was some evidence that businesses were increasing overtime rather than
taking on extra staff.

TCCI chief executivwe Tim Abey said there was more good news than bad in the survey.

However, a strong lift in capital equipment investment and employment was needed before
Tasmania came out of the economic woods, Mr Abey said.

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KEYWORD: BUSINESS TAS

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