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Monthly Business Survey: January 2022
Business conditions deteriorated in January as the Omicron variant caused COVID-19 cases to reach unprecedented levels, triggering consumer caution and staff shortages. Profitability, trading conditions, and employment all fell, with the impact felt across almost all states and industries. Recreation & personal services continues to be hardest hit but retail, transport, and construction all saw large negative impacts. Nonetheless, business confidence rebounded to positive territory after the initial outbreak caused a sharp fall in confidence in December. The confidence rebound signals that, despite the ... (full story)