Today’s Dun and Bradstreet’s July release of Business Expectations for the September quarter makes for some pretty awful reading. From the top, employment intentions hit their post GFC low:
Capex joins employment:
Sales joins capex:
But profits will be up:
On the hope of jacking prices:
Good luck with that.
The Koukbot Telephunken U-47, who is the economist at D&B, continues its wild gyrations:
“The business sector is unambiguously preparing for weaker activity, with broad-based declines in the key components of the D&B Business Expectations Survey,” said Stephen Koukoulas, Economic Advisor to Dun & Bradstreet. “Of most concern is the scaling back in employment intentions, which points to net job shedding and undoubtedly a rise in the unemployment rate in the next few months,” he said. “These business expectations point to the opportunity for the RBA to further cut interest rates particularly as the survey also shows weakness in expected sales and a softer profit outlook. “While there appears to be some pick-up in expected selling prices on the back of the recent fall of the Australian dollar, this increase is from a historically low base. It would be unlikely to deter the central bank from cutting interest rates given the more problematic big-picture view of the economy,” Mr Koukoulas added.
MacroBusiness Industries is considering a recall.
Businesses say no new jobs – D by Tiffany Barton
