NEITHER the conclusion of the federal election nor the most recent interest rate cut is likely to stimulate Australia's slowing economy, says credit information bureau Dun & Bradstreet.
D&B's latest Business Expectations Survey, released on Tuesday, showed that expectations for sales, investment and employment in the last three months of 2013 are flat and at a low level.
Many companies had found the last year tough and now were focusing on reducing debt, controlling expenses and managing their core operations.
The biggest barrier to growth was rising operating costs.
Cash flow was also a significant issue, with companies taking much longer to pay bills.
"Business expectations for the final quarter of the year have fallen flat in a sign that the economy's long-awaited revival will not occur in 2013," D&B said in a statement.
"The outlook for the remainder of the year suggests that businesses do not view the conclusion of this month's federal election as a potential springboard for the economy.
"Businesses also appear to consider the Reserve Bank's latest rate cut as reason for continued caution, rather than investment."
The percentage of businesses expecting increased sales has fallen from 18 per cent in the previous quarter to 11 per cent in the fourth quarter.
Only two per cent of businesses plan to lift spending in the next quarter, and only three per cent intend to hire new staff.
The services and the wholesale sectors were the least positive.
The manufacturing sector was the most positive, buoyed by the falling value of the Australian dollar.
D&B chief executive Gareth Jones said business expectations had been tracking downwards and were only just stabilising at a low level.
"The year-end outlook for businesses is not particularly cheery," he said.
He said businesses will be hoping for a traditional pick-up in consumer spending in the New Year and the summer months.
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