Hunter Economic Update October 2011
Newcastle Presentations and Hunter Economic Indicators publication
Media Release
Thursday, 20 October 2011
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Conditions mixed in Hunter economy
Economic conditions are currently mixed in the Hunter, with a strong labour market but signs of weakness in business and consumer sectors, according to the Hunter Valley Research Foundation’s latest Hunter Region Economic Indicators. Business conditions in the Region are moderate to weak, reflecting the impacts of the multi-speed economy and the overall economic uncertainty besetting the nation and the globe, according to HVRF Senior Research Fellow Caroline Veldhuizen.
“HVRF business surveys capture a representative sample of all businesses in the Region, which means the picture is not as optimistic as one that looked explicitly at the businesses benefiting directly from commodities production and export. There is evidence of declining capital investment, business performance and confidence in recent quarters, and an overall downward trend in many of the indicators over the past decade.”
The regional economic outlook, however, remains moderately strong. While global demand for commodities may still slow, it will continue to provide a valuable engine for growth if the Euro crisis is contained. Caroline will present the full results from the September quarter Hunter Region Economic Indicators, and also report on the way the regional economy interacts with other dimensions such as quality of life and the environment, at the Foundation’s breakfast tomorrow morning
Other speakers:
- Paul Bloxham, Chief Economist, HSBC Bank Australia
Australia’s Place in the World - Todd Williams, CEO, RDA Hunter
Diversification of the Hunter Economy Post BHP
ENDS