Miners gloomy on outlook

Miners are gloomy on the outlook for the next 12 months, but utility businesses, banks, insurers and food companies are more upbeat.

While sentiment among mining companies remains in the dumps, other sectors are much more optimistic about the future, according to a survey of businesses.

The DBM Consultants' Business Financial Services Monitor showed utility businesses, like electricity and gas providers, were the most upbeat about their prospects, with 68 per cent expecting to lift revenue in the next 12 months.

Meanwhile, 66 per cent of financial services and insurance businesses and 64 per cent of food and accommodation businesses anticipate higher revenue.

At the other end of the scale, only 19 per cent of miners expect to lift revenues.

"Whilst the data speaks for itself, you only have to look at the latest news headlines to understand that pessimism is rife in the mining sector at the moment," DBM Consultants director Maria Claridad said.

The BFSM surveys 20,000 businesses a year.


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Source: AAP


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