Australian businesses in Retail trade and Accommodation and Food Services sectors have recorded far higher business expectations in the three months to April 2013 than the previous quarter, according to the April 2013 Roy Morgan Business Survey.
For the 3 months to April 2013, 41.6% of Retail Trade businesses said their business would be “better off” in the next business year, up from 36.8% the previous 3 months. Similarly, 40.0% of Accommodation and Food Services business said their business would be “better off” up from 35.2%.
The rise in business expectations for these sectors follows recent increases in consumer confidence, up from 116.9 in the 3 months to January 2013 to 120.9 for the 3 months to April 2013.
However, businesses in Personal, Repair and other service industries, which includes business like hairdressers and dry cleaners, did not record a similar rise in business expectation, with positive expectations for the 3 months to April 2013 little different from the previous 3 months.
Source:Roy Morgan Consumer Confidence, November 2012 – January 2013 n = 8,619, February 2012 – April 2013, n = 8,491; Roy Morgan Business Single Source, Retail Trade: November 2012 – January 2012 n = 1,135, February 2012 – April 2013 n = 959; Accommodation and Food Services Businesses: November 2012 – January 2012 n = 459, February 2012 – April 2013 n = 360, Personal, Repair and Other Services: November 2012 – January 2012 n = 445, February 2012 – April 2013 n = 489.
Nigel Smith, Director of Business Research, Roy Morgan Research, says:
“Industries that are dependent on consumer demand have, not surprisingly, showing increasing optimism as Consumer Confidence rose early in 2013.
“However the rise in business optimism is not universal – even among consumer-oriented industries. The Personal Services industry, which has a high concentration of businesses in automotive repairs, electronic equipment repairs, hairdressing and dry cleaning businesses, seems not to have registered much of an increase in optimism. This may reflect lower spending on less crucial areas by households – waiting longer to repair cars, get haircuts, or cutting back on dry cleaning.”
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