The trading conditions have already been at their worst levels for about 14 years now. And this has led the business owners in believing that the economy is desperately in need of more interest rate reductions.
An appalling result in the latest survey of the Australian Chamber of Commerce and Industry (ACCI) on investor confidence showed that most businesses are stabilizing at low levels while some others are “sinking to contractionary territory”.
According to the ACCI Director of Economics and Industry Policy, Greg Evans, "Overall the survey shows that mainstream Australian business is under significant pressure."
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