Business conditions improving
Business conditions are improving according to the latest Australian Chamber of Commerce and Industry (ACCI) survey.
The survey of over 2,500 firms, found that business conditions improved in the June quarter, as profits and employment rose slightly. However they are still in negative territory, prompting calls for the RBA to hold off increasing interest rates until the economy recovers and business conditions return to normal.
ACCI acting chief executive Greg Evans told reporters in Canberra on Tuesday that an increase in interest rates, could “choke off economic recovery” and be a “concern to Australian business.”