The December Quarter 2007 results were released on 11th February 2008. The reports can be downloaded from the Westpac website.

The reports discuss the Westpac / Charles Sturt University (CSU) Agribusiness Index for Australia in the December Quarter of 2007. The index is based on a nationwide survey of 1,200 businesses in the agribusiness sector. Reports are available for each state.

The survey includes agricultural producers as well as suppliers to agriculture (upstream) and related transport, manufacturing, wholesale and retail businesses (downstream). The aim of the survey is to provide a timely snapshot of agribusiness performance across Australia. The Economic Performance Index (EPI) is the average of results for business performance, employment and investment (capital expenditure) indicators. The EPI for Australia by statistical division is shown on the adjacent map.

The overall EPI for Australia for the December Quarter 2007 was -0.06, an increase from -0.12 in the September Quarter and an improvement on the position reported at the end of the December Quarter of 2006 (-0.11).

Five out of six states reported an increase in EPI from the September Quarter, with Tasmania and Victoria recording a positive EPI. Western Australia reported a minor decline in EPI but remained in positive territory.

The green areas on the map represent statistical divisions that have reported a positive EPI. These include North West, Fitzroy and Darling Downs divisions in Queensland; Far West, Mid-North Coast, Hunter and Illawarra divisions in New South Wales; southern divisions in Victoria; South East division of South Australia; eastern divisions in Tasmania and South Eastern, Upper and Lower Great Southern, and Midlands divisions of Western Australia.

The red areas on the map indicate statistical divisions that have recorded a poor EPI and include South West division in Queensland and Murray and Murrumbidgee divisions in New South Wales.
The outlook for Australian agribusinesses in the coming March Quarter is generally positive with an overall increase in levels of business confidence (74%) and business performance, investment and employment expected to move into positive territory.