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The latest Roy Morgan Snap SMS Survey of 1,170 Australian businesses conducted in mid-February showed that about 17% of them have already been affected by the coronavirus outbreak.

Key findings:

Around two-fifths of Manufacturers are already reporting being affected.

A third of education and training businesses and those in the Wholesale industry.      

Other industries to already be feeling the effects of the coronavirus include Accommodation and Food services which includes travel and tourism businesses, Community services, Administrative & Support services and Property & Business services.

Responses fell into a few broad categories including:

The issue of workers, or students, being quarantined and kept away from work/study;

 The impact on supply lines for the import or export of goods and parts to and from China; 

The decline in forward bookings from Chinese tourists and cancellations by customers in Asia. 

As well as the general hit to confidence which includes a weaker stock-market. 

As well as lower foot traffic in stores due to a combination of the aforementioned.

  • AUD/USD Price Analysis: Major correction on the cards according to momentum divergence
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