Record low sales performance was reported by businesses across the NSW Central West region in the June quarter, although sales still remained positive, according to the latest Reliance Credit Union Regional Business Survey released by Charles Sturt University’s (CSU) Western Research Institute (WRI) today, Tuesday 8 July.

 

“The general economy and climatic conditions had the greatest impact on businesses, delivering poor or very poor sales performance across the region,” said Chief Executive Officer (CEO) of Reliance Credit Union, Mr John May.

 

“The strongest sales performance was recorded in the business and professional services sector, while the tourism sector was the first industry to record negative sales performance since the June quarter of 2004,” said Mr May.

 

Profitability and capital expenditure also fell significantly across the Central West, while operating costs increased to the highest levels on record. Employment was resilient, however, with businesses increasing part-time and casual positions each by two per cent over the previous quarter.

 

“All industry sectors expect improvements in sales performance and profitability in the coming quarter,” commented Chairman of the Central West Regional Development Board, Mr Sandy Morrison.

 

“Capital expenditure is anticipated to decrease further, but should still remain positive.”

 

“The rising cost of fuel has had significant impact over three quarters for businesses in the Central West region,” said WRI Director, Mr Tom Murphy. “One in three businesses altered their practices as a result, with most adjusting their style of driving and distances travelled. Many businesses passed higher fuel prices on to consumers, or cut costs in other areas of their businesses.”