Business confidence soars
By
Luke Cornish
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9/03/2010 12:00:00 AM
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The outlook for businesses is at its highest level in five years with business owners and senior executives confident of a strong June quarter, a new survey shows.
The Dun & Bradstreet survey showed that sales expectations were the highest they have been in six years, while profit expectations were the highest they have been in five.
Businesses have been buoyed by a sustained economic recovery and the fact that Australia avoided a technical recession. Any fears that the economy might suffer a second shock have all but disappeared.
However, a spokesperson for Dun & Bradsheet warned that inflation pressures are building, which could negatively impact any hopes for growth.
How the Reserve Bank tries to relieve these pressures will be of more concern to mortgage brokers, who have already seen rates for home loans increase three times since their historic lows.
Inflationary worries should especially concern brokers in light of a Mortgage Choice report that found that many first time homebuyers would be put off taking out a home loan if the central bank lifts rates a further 2%.
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