Business conditions in Southern NSW have improved slightly, despite capital spending and profits remaining down.
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NSW Business Chamber regional manager Andrew Cottrill said the Business Conditions survey results for the quarter ending June 30, showed profits were slightly down across the Murray region.
Reductions in capital spending were apparent in Murray, he said, with 47.9 per cent of responding businesses saying their total capital spend had decreased, while 49 per cent thought operating costs had increased.
"Business owners are telling us the drought, energy costs and red tape are still holding the economy back in this region," he said.
IN OTHER NEWS:
Mr Cottrill said the view of the NSW economy among Murray businesses was improving and the outlook for next quarter was positive.
In the Riverina, profits had increased slightly for businesses but capital spending was flat. Riverina businesses continue to have a more negative view of the NSW economy than their Murray counterparts.
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