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CURRENT ECONOMIC CONDITIONS

Source: www.acci.asn.au
Topic: Economic Conditions

Sort Desciption: CURRENT ECONOMIC CONDITIONS. With the release of the September 2002 ACCI-Westpac Survey of Industrial. Trends ACCIs Business Barometer for the September ...

Content Inside: Commerce House 24 Brisbane Ave Barton ACT 2600 PO Box E14 Kingston ACT 2604 Australia Telephone: 61-2-6273 2311 Facsimile: 61-2-6273 3286 Email: acci@acci.asn.au ABN 85 008 391 795 L E A D I N G A U S T R A L I A N B U S I N E S S CURRENT ECONOMIC CONDITIONS With the release of the September 2002 ACCI-Westpac Survey of Industrial Trends ACCIs Business Barometer for the September quarter can now be finalised. And what the data show is that the strong momentum found in the economy at the start of the year has dissipated. There is clear evidence that the strong conditions and rapid rates of improvement which had been forecast have abated to some extent. Conditions are still relatively good; they are just not as strong as many had expected they would be as we enter the new financial year. The ACCI Business Barometer is designed to provide a coincident measure of economic activity in Australia. It is updated each month with the data provided by the latest ACCI survey. The barometer is comprised of the results showing actual business conditions employment and investment for each of ACCIs three national surveys. Business Barometer Trend 20 30 40 50 60 70 Ma r - 8 9 Se p - 8 9 Ma r - 9 0 S e p- 90 Ma r - 9 1 S e p- 91 Ma r - 9 2 Se p - 9 2 Ma r - 9 3 Se p - 9 3 Ma r - 9 4 S e p- 94 Ma r - 9 5 S e p- 95 Ma r - 9 6 Se p - 9 6 Ma r - 9 7 Se p - 9 7 Ma r - 9 8 S e p- 98 Ma r - 9 9 Se p - 9 9 Ma r - 0 0 Se p - 0 0 Ma r - 0 1 Se p - 0 1 Ma r - 0 2 S e p- 02 In d e x The data do make it clear that the economy is in no danger of an actual fall in growth. The economy will continue to expand but it is now less likely that Australia will experience the kind of upturn that we had been hoping for at the start of the calendar year. The outlook while still good is more temperate than it was. The data shown in the barometer take us through to the September quarter an advance on the most recent National Accounting data which are for June quarter. The data indicate that th ...

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