Polls reflect climate of business confidence
A QUARTERLY Chamber of Commerce and Industry Queensland survey showed two-thirds of businesses recorded a decline in sales during the first quarter.
The pulse survey said that 92 per cent of businesses expected the economy to slump further within the next year.
But the chamber’s local branch president Tim Sayre said a more localised report compiled with the Bundaberg Regional Council in April demonstrated it was more severe than that for Bundaberg businesses suffering from the COVID-19 self-isolation measures.
Mr Sayre said all sectors were impacted, but that businesses that were able to adjust to high needs goods, such as face masks or hand sanitiser, “have done reasonably okay.”
“It’s those businesses that were exporting significantly, or those businesses that were a traditional retail type nature that have done very, very poorly through this and suffered greatly,” he said.
He also expected sectors such as the construction industry to suffer further, as consumers became cautious and saved money in case of emergencies.
“We do expect the construction industry will need further support going forward, whether that’s a continuation of JobKeeper, or something specific,” Mr Sayre said.
A Bundaberg Regional Council spokesman said findings from the survey were confidential.
An economic recovery group worked as a committee of the Local Disaster Management Group, and the release of its reports needed the permission of its members, who were scheduled to meet again next week.