Latest CCIQ Gold Coast Report shows improved outlook from March Quarter.

Latest results indicated that the Gold Coast businesses are confident that the future of the state and national economies will remarkedly improve. However, it is important to note that the turnaround is off a low base and actual business performance is reported to remain low.

Confidence improved in the March quarter with Gold Coast businesses anticipating a gradual strengthening in the national and Queensland economies over the next 12 months. General business conditions and total sales revenue improved during the quarter. At the same time, considerable increases in business operating costs coupled with rising labour costs offset this improvement. As a result, business profitability only marginally improved and is not yet at profitable levels.

Actual growth is anticipated to occur in the June quarter, with expectations for general business conditions, sales and employment all registering strengthening PBIs of above 50 index points.

In summary, this quarter’s results, whilst reflecting volatility, are promising as they signal a consistent pathway towards an improved economic outlook for the Gold Coast.