CONFIDENCE WIPEOUT: A Griffith University – Northern Star business confidence poll reports business confidence has dropped by 20% in the last quarter.
CONFIDENCE WIPEOUT: A Griffith University – Northern Star business confidence poll reports business confidence has dropped by 20% in the last quarter. The Northern Star Archives

Tourism shines as confidence wanes

WITH the federal election looming, tourism was the only bright light to shine through substantial gloom that has emerged from the latest quarterly Griffith University - Northern Star business confidence poll.

Positive confidence responses regarding the projected performance of the local economy as a whole during the next three months dropped by 20% when compared to the previous quarter.

Neutral responses, totalling 40%, were up by 10% while negative responses rose by 16%.

The quarterly survey tracks fluctuations in confidence regarding the key property, tourism, retail and rural sectors.

It also covers topical issues that may influence business in the region including, in this poll, issues relating to Prime Minister Rudd's abolition of the carbon tax in favour of an emissions trading scheme and the impacts of the falling Australian dollar on local businesses.

Griffith University Pro Vice Chancellor (Business), Professor Michael Powell, said the movement of many respondents to neutral positions indicated an increasingly pessimistic outlook and a general decline in business confidence on the Northern Rivers.

Adding to the gloom was doubt about the Rudd carbon tax policy with a substantial majority of businesses not expecting any benefit from it.



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