Aussie businesses weren?t so confident in June amid looming interest rate rises to tackle the nation?s red hot inflation.
Business confidence fell 5 points to just 1 index point for the month of June as Aussie businesses fear the impact of rising interest rates. Confidence in the retail sector plummeted by more than 21 points into negative territory, and mining, transport and utilities also saw large declines in business confidence.
Business conditions also fell but only by 2 points to 13 index points as conditions across most industries remain strong, besides of course the construction industry as building costs continue to rise which tightens profit margins.
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