Business confidence remains fragile with support from the May budget yet to filter through and buoy confidence in the economic outlook.
The Australian Chamber of Commerce and Industry's business expectations survey for the three months to June found predictions for the economic outlook over the next 12 months easing for the fifth consecutive quarter.
Business reported deteriorations in sales revenue, selling prices, profits, employment and investment, and all coming at a time of rising wages and increasing labour costs.
However, export sales increased for the second consecutive quarter, suggesting exporters are beginning to benefit from the falling Australian dollar.
ACCI chief Kate Carnell said the budget was a good one for businesses, especially small firms, but it is taking a while for that to filter through.
"The ... survey demonstrates that confidence remains fragile and the economy is facing significant headwinds," she said on Monday.
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