Pulse Report March 23
Business Chamber Queensland’s Pulse Survey of business conditions for the March quarter 2023 revealed that decreased demand and economic activity attributed to inflation and interest rates have resulted in a decline in business performance in the March quarter.
While retaining and recruiting suitable employees is still the top constraint for Queensland businesses, its severity has eased since the December quarter. The constraints on business growth has revealed that the impact of recent interest rate increases on consumer spending is being felt by Queensland business.
The level of demand and economic activity has reentered the top five constraints on growth, and interest rates have risen to second place for the first time since March 2010 In contrast, direct wage cost has dropped out of the top five constraints for Queensland businesses.