Pulse Report | September quarter 2022
Business Chamber Queensland's September quarter Pulse Report shows consistently high operating and labour costs resulted in weak profitability, however, businesses reported on-average operating levels had returned to pre-COVID levels for the first time since March 2020.
Key facts from the report:
- General business conditions improved in the September quarter as a consequence of better sales with the index above this time last year and the ten year average.
- Total sales and revenue in the September quarter improved and is expected to continue improving in the December quarter.
- More than half (52%) of businesses indicated their profitability fell during the quarter.
- More than half (56%) of businesses indicated their employment levels did not change in the September quarter, with levels overall satisfactory, representing a stagnate labour force.
- Businesses indicated a continuing strengthening in investment with capital expenditure levels satisfactory, however one in four businesses expect to decrease investment in the December quarter.
- Operating costs in the September quarter continued to significantly rise, with further increases expected in the next three months.
- Close to seven in 10 (69%) businesses increased their labour costs in the September quarter
Download the FULL report to read analysis on Queensland business confidence and general business conditions.
Mitsubishi Motors Australia Ltd. is proud to partner with Business Chamber Queensland for the 2022 Pulse Survey.