The Australian Chamber of Commerce and Industry largely represents building and manufacturing interests. It’s quarterly sentiment survey is therefore aimed at that part of the economy that is being targeted for a rebound in investment by the RBA and Treasury in lieu of falling mining capex.
And there is a little hope in the survey with recent conditions showing improvement:
However, that’s where the good news ends. In general, the December quarter survey is deeply depressed, not to say deeply depressing as firms within the two sectors see little hope of anything good coming their way.
You can leaf through the survey yourself if you’re in need of a downer, but on the whole it shows sentiment is actually much worse than the reality (which is poor) and as such, the kicker chart of whole bag is the plans for investment, which are not showing any signs of delivering on great expectations:
Full report below.
