Veda Group released the results of its annual national credit managers’ survey. Veda told the trade credit industry that economic conditions had a negative impact on business over the past six to twelve months and despite recent positive signs, sentiment remains broadly pessimistic about the next twelve months.
The survey was conducted in June this year and looked at the previous six months from January to June. Presenting the findings at the annual AICM National Conference in Adelaide on 24 October, Moses Samaha, Veda’s General Manager of Commercial Credit Risk said there is indeed evidence from recent market surveys of growing business optimism and low interest rates are helping to provide some support to business sentiment. Yet despite this, concerns about the relatively high Australian dollar, the slowdown in the mining industry, Federal Government policy uncertainty (pre-election), levels of consumer sentiment and unemployment, and weakness in housing construction took their toll on sentiment in the credit management industry and this was reflected in the survey.
Source: Veda Press Release