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February 2011

Current business conditions in Sydney

As the cooler weather of the European winter continues, the harsh conditions are also reflected across consumer and business confidence with significant cuts across public services in the UK, creating potential for a further slide into recession. Across Europe, Euro-zone countries affected by deep cuts in public service costs, have seen massive protests on the streets of Brussels, a major seat of European Union, and Paris. Will the discontent spread?
Closer to home, while the general business climate across Australia continues to look on the bright side, almost instep with the warmer, sunnier and more optimistic weather we are experiencing, the affect of our own recent devastating weather conditions is yet to be felt.

Is Australia set to move even more out of pace with the major economies of the northern hemisphere and continue the positive trend of recovery and growth? If anything is clear, pointers for change to the Australian economy are increasingly coming from new quarters, and the strength of our regional partners may help us to sustain a resilience and self-sufficiency in tougher global times.

So, will the economic sun continue to shine brightly for Sydney? If only we had a crystal ball. If bad weather could be heralded for any sector, trouble could easily be expected for the tourism market, and as such the need to exploit less traditional markets a seemingly wise strategy in this sector for the coming year.

Either way, I'm sure you would agree, it pays to keep the umbrella handy all year round.

So, how optimistic are you about the coming year for your business, or the market in general? Drop us a line, we'd be keen to hear from you. Email us at thegauge@sglba.com.au