Illawarra residents are being urged to get out and support their local businesses following a forecast 12% average drop in Christmas trade across the region.
A survey of businesses from across the region released in the latest Business Conditions Survey has revealed that a majority of Illawarra businesses surveyed are expecting Christmas trade to be down compared to last year.
Business Illawarra Executive Director Adam Zarth has today encouraged the community to support local businesses through what they expect will be a tough Christmas trading season.
“Our members are telling us that interest rate hikes have continued to impact consumer spending and business confidence, but there is hope on the horizon.”
Despite the downbeat sales predictions, the headline Business Confidence Index has improved by 17% since the previous quarter.