Mid-market companies 'are holding their own'
Article by Mozo
Although confidence levels among Australia's business banking customers have dipped of late, bosses at the Commonwealth Bank believe that mid-market companies are not doing too badly.
The organisation has released its Future Business Index, which measured corporate sentiment at 4.3 – down from the previous report, which no doubt reflects the tough economic climate.
However, the firm pointed out that this was still a marked improvement on figures from the same point in 2011, when confidence was down to -0.3.
As always, levels of optimism varied depending on which sector an enterprise was operating in, with retailers and mining specialists being far more upbeat than those in construction, business services and transport.
It will also be interesting to see what impact the recent interest rate cuts will have on companies in the next few months.
Commonwealth Bank's executive general manager of corporate financial services Symon Brewis-Weston said it is important to analyse the latest results over the long-term, rather than focusing on the recent decline.
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