The Australian Bureau of Statistics (ABS) has released the results of the first Business Impacts of COVID-19 survey. About half of the Australian businesses surveyed (49%) had experienced an adverse impact as a result of COVID-19 during the mid-March data collection period and 86% of businesses expected to be impacted in future months.
- Major impacts are felt in Accommodation & food services with over three quarters of businesses already reporting impacts.
- Businesses in Professional, scientific & technical services, Electricity, gas and water supply and businesses in Mining were the least likely to have been adversely impacted.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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