Australia: Coronavirus likely to adversely impact business in near-term – ABS Survey

Dhwani Mehta FXStreet

According to a weekly business survey conducted by the Australian Bureau of Statistics (ABS), 72% of businesses surveyed reported that reduced cash flow is expected to have an adverse impact on business over the next two months.

Additional findings

61% businesses had registered or intended to register for the Jobkeeper payment scheme.

Reduced demand for goods and services was expected to impact about seven in ten businesses (69%) over the next two months.

41% expect a reduced ability to pay operating expenses.

The survey, basically, assesses the information on the prevalence and nature of impacts from COVID-19 on businesses operating in Australia.

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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