Business prospects in 2011
Australian Industry Group and Deloitte National CEO Survey
An Australian Industry Group (Ai Group) /Deloitte National CEO Survey , of business leaders across large sections of the Australian economy, has forecast that business conditions will continue to build on the recovery that commenced in 2010.
The survey results highlighted that while patchy, business leaders were anticipating that the economy overall will present growth opportunities in the year ahead.
The survey of 530 CEOs in the manufacturing, services and construction industries, revealed sharp differences between the expectations of leaders from the three sectors of the economy.
- Manufacturers expected difficult conditions as sales and exports were anticipated to only marginally improve in 2011. Further, the manufacturing sector expected a significant fall in capital investment, employment and minimal growth in expenditure on research and development in 2011
- The services sector as a whole anticipates gains across all the economic indicators surveyed except for the important areas of capital investment and research and development expenditure. It expected economic activity across the economy to pick up and for consumers to resume spending as wages grow and as the labour market strengthened further
- The construction sector expected to perform more strongly in 2011 on the back of the resources boom and pent-up demand.
Download the full report 'National CEO Survey: Business Prospects in 2011' and media release below.