Data Snapshot: Private Capital Expenditure - Collapse is Coming

The key points in the report are:

 

  • The fourth edition of the Australian Bureau of Statistics (ABS)’s survey measuring the impact of COVID-19 on businesses was released today.
  • It was conducted over the period 13 May – 22 May.
  • The aim of the survey is to provide further information on the prevalence and nature of adverse impacts from COVID-19 experienced by Australian businesses.
  • The survey has helped identify how businesses’ operating conditions have changed in the wake of the COVID-19 pandemic.
  • 74% of businesses said they had changed the way they operate and 72% said their revenue had declined as a result.
  • More than half (55%) of businesses said they had received a wage subsidy and 38% said they had accessed other forms of government support.
  • 16% of businesses in the survey said they had deferred loan repayments and 11% said they had sought additional funds due to COVID-19.
  • A greater proportion of small businesses deferred loan payments (16%), but there was a smaller proportion receiving property rental deferrals (18% compared with 27% of medium sized businesses and 32% of large businesses).
  • 71% of businesses said they expected social distancing measures to negatively impact their operations in some way over the next two months. 63% said trading restrictions would continue to have an impact and 50% said that travel restrictions would hamper their operations.
  • Businesses were asked what would be required for business to return to pre-COVID-19 levels, aside from the relaxation of restrictions. 35% said it would require a revival in demand, highlighting the crucial role that confidence will play in the recovery.

 

Please refer to the attached report for more information.



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Bank of Melbourne Morning Rep&hellip