Tag Archives: business confidence

The National Australian Bank October business survey – released on Tuesday – shows its index of confidence tumbled a massive 21 points in October to minus 29 points, its lowest level since the series began in 1997.

The survey of 400 non-farm businesses also showed business conditions at a seven-and-a-half-year low.

“Business confidence is bad here as it is in practically every other developed economy in the world,” Mr Rudd told parliament. “If you look at the survey of business confidence in the United States, the United Kingdom, France, China, Germany, Italy as produced in the relevant series you will see them all heading downwards, that’s because of the global financial crisis.

The crisis had impacted on global financial markets which, in turn, had hurt equity and property markets, and is flowing through to the real economy and jobs.

“Business looking at these developments around the world have become pessimistic about the possibility of investment and growth,” Mr Rudd said.

Liquidation Direct is dealing with a huge increase in the volume of calls from companies that are suffering as a result of the fear caused by the global credit crunch.

If you are feeling the effects of tighter consumer spending in your business, we recommend you take advice early in order to explore all of your options.

Call 1300 767 525 for free, confidential insolvency advice.