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Monthly Business Survey: June 2022
Business confidence fell to a below-average +1 index point in June as global uncertainty, looming interest rate hikes and inflation continued to cloud the outlook. Fears over these impacts on household consumption were particularly evident with confidence in the retail sector taking a significant hit. Business conditions declined by a more modest 2pts to +13 index points but remained well above average. Conditions have remained strong across the states and across most industries – including retail. Soft conditions in construction remain an outlier as building costs continue to rise, squeezing profits despite a ... (full story)