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ISCOVER
Staff Reporter
Australia’s two-speed economy is having a positive impact on regional small businesses.
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According to new research by ANZ, small business sales improved 0.6 per cent in April – considerably more than in metro areas.
The ANZ Small Business Sales Trends series shows monthly growth in regional and rural small businesses was up 1.9 per cent compared to relatively flat growth (-0.1 per cent) in capital cities.
ANZ head of Australian economics and property research Ivan Colhoun said the data is important because it provides an early indication of the ABS’s monthly retail trade survey, which is published in early June.
“Our data has consistently tracked the ABS numbers but allows greater scope for analysis by state and by category of retailer,” Mr Colhoun said.
“The data shows trading conditions have improved slightly for Australian small businesses.”
Mr Colhoun said the results reflect the two-speed nature of the Australian economy and the differential impact strong commodity prices and rising interest rates have on regional versus metro areas.
